Construction Spending Ticked Down 0.6% in July

Washington, DC, September 1, 2017-Construction spending during July 2017 was estimated at a seasonally adjusted annual rate of $1,211.5 billion, 0.6% below the revised June estimate of $1,219.2 billion, according to the U.S. Census Bureau.

The July figure is 1.8% above the July 2016 estimate of $1,189.8 billion. During the first seven months of this year, construction spending amounted to $691.2 billion, 4.7% 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% 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% above the revised June estimate of $513.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $428.0 billion in July, 1.9% below the revised June estimate of $436.2 billion.

In July, the estimated seasonally adjusted annual rate of public construction spending was $266.0 billion, 1.4% below the revised June estimate of $269.8 billion. Educational construction was at a seasonally adjusted annual rate of $66.2 billion, 4.4% below the revised June estimate of $69.2 billion. Highway construction was at a seasonally adjusted annual rate of $84.8 billion, 0.1% above the revised June estimate of $84.7 billion.