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Posted September 5, 2018

U.S. construction spending barely moves the needle in July

School construction leads the industry with just 2.1 percent improvement month over month. 


The U.S. Census Bureau announced the following value put in place construction
statistics for July 2018:

Total Construction
Construction spending during July 2018 was estimated at a seasonally adjusted annual rate of $1,315.4 billion, 0.1 percent (±1.5 percent)* above the revised June estimate of $1,314.2 billion. The July figure is 5.8 percent (±1.8 percent) 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 percent (±1.2 percent) above the $703.7 billion for the same period in 2017.

Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,010.9 billion, 0.1 percent (±0.7 percent)* 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 percent (±1.3 percent)* 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 percent (±0.7 percent) below the revised June estimate of $455.3 billion.

Public Construction
In July, the estimated seasonally adjusted annual rate of public construction spending was $304.5 billion, 0.7 percent (±3.0 percent)* above the revised June estimate of $302.3 billion.

Educational construction was at a seasonally adjusted annual rate of $71.6 billion, 2.1 percent (±5.9 percent)* above the revised June estimate of $70.1 billion.

Highway construction was at a seasonally adjusted annual rate of $94.2 billion, 0.4 percent (±7.1 percent)* above the revised June estimate of $93.8 billion.

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