Construction spending during July 2024 was estimated at a seasonally adjusted annual rate of $2,162.7 billion, 0.3% below the revised June estimate of $2,169.0 billion. The July figure is 6.7% above the July 2023 estimate of $2.027.4 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,678.7 billion, 0.4% below the revised June estimate of $1,685.5 billion. Residential construction was at a seasonally adjusted annual rate of $941.6 billion in July, 0.4% below the revised June estimate of $945.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $737.2 billion in July, 0.4% below the revised June estimate of $740.2 billion.
In July, the estimated seasonally adjusted annual rate of public construction spending was $484.0 billion, 0.1% above the revised June estimate of $483.5 billion.
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