U.S. construction spending trends mostly flat in July
Year-over-year total spending trends down 2.1 percent compared to 2018.
The U.S. Census Bureau announced the following value put in place construction
statistics for July 2019:
Total Construction
Construction spending during July 2019 was estimated at a seasonally adjusted annual rate of $1,288.8 billion, 0.1 percent (±1.3 percent)* above the revised June estimate of $1,288.1 billion. The July figure is 2.7 percent (±1.6 percent) 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 percent (±1.2 percent) below the $749.9 billion for the same period in 2018.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $963.1 billion, 0.1 percent (±0.7 percent)* 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 percent (±1.3 percent)* 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 percent (±0.7 percent) below the revised June estimate of $460.2 billion.
Public Construction
In July, the estimated seasonally adjusted annual rate of public construction spending was $325.7 billion, 0.4 percent (±2.5 percent)* above the revised June estimate of $324.3 billion.
Educational construction was at a seasonally adjusted annual rate of $73.3 billion, 1.6 percent (±2.8 percent)* above the revised June estimate of $72.1 billion.
Highway construction was at a seasonally adjusted annual rate of $97.0 billion, 2.7 percent (±6.4 percent)* below the revised June estimate of $99.7 billion.
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