July Construction Spending Rose 5.8% YOY

Washington, DC, September 4, 2018-Construction spending during July 2018 was estimated at a seasonally adjusted annual rate of $1,315.4 billion, 0.1% above the revised June estimate of $1,314.2 billion, according to the U.S. Census Bureau.

The July figure is 5.8% above the July 2017 estimate of $1,242.8 billion.

During the first seven months of this year, construction spending amounted to $740.5 billion, 5.2% above the $703.7 billion for the same period in 2017.

Spending on private construction was at a seasonally adjusted annual rate of $1,010.9 billion, 0.1% below the revised June estimate of $1,011.9 billion. Residential construction was at a seasonally adjusted annual rate of $560.1 billion in July, 0.6% above the revised June estimate of $556.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of

$450.9 billion in July, 1.0% below the revised June estimate of $455.3 billion.

In July, the estimated seasonally adjusted annual rate of public construction spending was $304.5 billion, 0.7% above the revised June estimate of $302.3 billion. Educational construction was at a seasonally adjusted annual rate of $71.6 billion, 2.1% above the revised June estimate of $70.1 billion. Highway construction was at a seasonally adjusted annual rate of $94.2 billion, 0.4% above the revised June estimate of $93.8 billion.