U.S. Construction Spending Continues to Advance in July
Total construction spending inches up 0.3 percent for month but trends up 9 percent over July 2020.
The U.S. Census Bureau announced the following value put in place construction
statistics for July 2021:
Total Construction
Construction spending during July 2021 was estimated at a seasonally adjusted annual rate of $1,568.8 billion, 0.3 percent (±1.2 percent)* above the revised June estimate of $1,563.4 billion. The July figure is 9.0 percent (±1.5 percent) above the July 2020 estimate of $1,439.6 billion.
During the first seven months of this year, construction spending amounted to $883.2 billion, 6.2 percent (±1.0 percent) above the $831.5 billion for the same period in 2020.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,231.0 billion, 0.3 percent (±0.7 percent)* above the revised June estimate of $1,227.8 billion.
Residential construction was at a seasonally adjusted annual rate of $773.0 billion in July, 0.5 percent (±1.3 percent)* above the revised June estimate of $768.9 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $458.0 billion in July, 0.2 percent (±0.7 percent)* below the revised June estimate of $458.9 billion.
Public Construction
In July, the estimated seasonally adjusted annual rate of public construction spending was $337.8 billion, 0.7 percent (±2.1 percent)* above the revised June estimate of $335.6 billion.
Educational construction was at a seasonally adjusted annual rate of $79.7 billion, 0.5 percent (±2.3 percent)* below the revised June estimate of $80.1 billion.
Highway construction was at a seasonally adjusted annual rate of $94.5 billion, 1.9 percent (±6.4 percent)* above the revised June estimate of $92.7 billion.
CONTRACTOR SUPPLY MAGAZINE
The April/May 2024 issue of Contractor Supply magazine is here!
This digital edition is sponsored by BECK AMERICA Inc.
Our cover story, Masters of Fasteners, visits Interstate Screw Corp. of metro Miami, which serves the fastening needs of south Florida, the Caribbean and Central and South America.
Also in this issue,our Industry Updates cover Adhesives, Tapes and Sealants, Anchoring Systems and Safety and PPE.
This digital edition is fully searchable and contains live links to every advertiser and new product listing. Click away!
