Construction Spending Flat in July, Up 5.6% for First Seven Months of 2016

Washington, DC, September 1, 2016—Construction spending during July 2016 was estimated at a seasonally adjusted annual rate of $1,153.2 billion, nearly the same as the revised June estimate of $1,153.5 billion, the U.S. Census Bureau of the Department of Commerce announced. The July figure is 1.5% above the July 2015 estimate of $1,135.9 billion.

During the first 7 months of this year, construction spending amounted to $647.7 billion, 5.6% above the $613.1 billion for the same period in 2015.

Spending on private construction was at a seasonally adjusted annual rate of $875.0 billion, 1.0% above the revised June estimate of $866.5 billion. Residential construction was at a seasonally adjusted annual rate of $445.5 billion in July, 0.3% above the revised June estimate of $444.0 billion. Nonresidential construction was at a seasonally adjusted annual rate of $429.5 billion in July, 1.7% above the revised June estimate of $422.5 billion.

In July, the estimated seasonally adjusted annual rate of public construction spending was $278.2 billion, 3.1% below the revised June estimate of $287.0 billion. Educational construction was at a seasonally adjusted annual rate of $64.6 billion, 8.3% below the revised June estimate of $70.4 billion. Highway construction was at a seasonally adjusted annual rate of $89.8 billion, 0.3% above the revised June estimate of $89.5 billion.