Construction Spending Ticked Up 0.1% in July

Washington, DC, September 3, 2019-Construction spending during July 2019 was estimated at a seasonally adjusted annual rate of $1,288.8 billion, 0.1% above the revised June estimate of $1,288.1 billion, according to the U.S. Census Bureau. 

The July figure is 2.7% below the July 2018 estimate of $1,324.8 billion. During the first seven months of this year, construction spending amounted to $733.8 billion, 2.1% below the $749.9 billion for the same period in 2018.

Spending on private construction was at a seasonally adjusted annual rate of $963.1 billion, 0.1% below the revised June estimate of $963.7 billion. Residential construction was at a seasonally adjusted annual rate of $506.7 billion in July, 0.6% above the revised June estimate of $503.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $456.4 billion in July, 0.8% below the revised June estimate of $460.2 billion.

In July, the estimated seasonally adjusted annual rate of public construction spending was $325.7 billion, 0.4% above the revised June estimate of $324.3 billion. Educational construction was at a seasonally adjusted annual rate of $73.3 billion, 1.6% above the revised June estimate of $72.1 billion. Highway construction was at a seasonally adjusted annual rate of $97.0 billion, 2.7% below the revised June estimate of $99.7 billion.