July 2014 construction spending was estimated at a seasonally adjusted annual rate of $981.3 billion, 1.8 percent above the revised June estimate of $963.7 billion. The July figure is 8.2 percent above the July 2013 estimate of $906.6 billion.

During the first seven months of this year, construction spending amounted to $535.4 billion, 7.9 percent above the $496.3 billion for the same period in 2013.

Spending on private construction was $701.7 billion, 1.4 percent above the revised June estimate of $692.2 billion. Residential construction was $358.1 billion in July, 0.7 percent above the revised June estimate of $355.6 billion. Nonresidential construction was $343.6 billion in July, 2.1 percent above the revised June estimate of $336.6 billion.

Public construction spending was $279.6 billion, 3 percent above the revised June estimate of $271.5 billion. Educational construction was $63.5 billion, 1.6 percent above the revised June estimate of $62.5 billion. Highway construction was $84.8 billion, 6.9 percent above the revised June estimate of $79.3 billion.