July construction spending was estimated at a seasonally adjusted annual rate of $1,211.5 billion, down 0.6 percent from the revised June estimate, according to the U.S. Census Bureau of the Department of Commerce. The July figure is 1.8 percent above the July 2016 estimate.
During the first seven months of this year, construction spending amounted to $691.2 billion, 4.7 percent above the $659.9 billion for the same period in 2016.
Spending on private construction was at a seasonally adjusted annual rate of $945.5 billion, 0.4 percent below the revised June estimate of $949.4 billion. Residential construction was at a seasonally adjusted annual rate of $517.5 billion in July, 0.8 percent above the revised June estimate of $513.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $428 billion in July, 1.9 percent below the revised June estimate of $436.2 billion.
In July, the estimated seasonally adjusted annual rate of public construction spending was $266 billion, 1.4 percent below the revised June estimate of $269.8 billion. Educational construction was at a seasonally adjusted annual rate of $66.2 billion, 4.4 percent below the revised June estimate of $69.2 billion. Highway construction was at a seasonally adjusted annual rate of $84.8 billion, 0.1 percent above the revised June estimate of $84.7 billion.
