Research >> Economics
Construction Spending unch% in July
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The U.S. Census Bureau of the Department of Commerce announced today that construction spending during July 2016 was estimated at a seasonally adjusted annual rate of $1,153.2 billion, nearly the same as (±1.5%)* the revised June estimate of $1,153.5 billion. The July figure is 1.5 percent (±2.3%)* 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 percent (±1.3%) above the $613.1 billion for the same period in 2015.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $875.0 billion, 1.0 percent (±1.5%)* 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 percent (±1.3%)* 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 percent (±1.5%) above the revised June estimate of $422.5 billion.
PUBLIC CONSTRUCTION
In July, the estimated seasonally adjusted annual rate of public construction spending was $278.2 billion, 3.1 percent (±2.6%) below the revised June estimate of $287.0 billion. Educational construction was at a seasonally adjusted annual rate of $64.6 billion, 8.3 percent (±3.9%) below the revised June estimate of $70.4 billion. Highway construction was at a seasonally adjusted annual rate of $89.8 billion, 0.3 percent (±6.4%)* above the revised June estimate of $89.5 billion.
Posted: September 1, 2016 Thursday 10:00 AM