The U.S. Census Bureau estimated construction spending during July at a seasonally adjusted annual rate of $1.153 trillion, nearly the same as the revised June estimate. The July figure is 1.5% above the July 2015 estimated annual rate of $1.136 trillion.
During the first seven months of this year, construction spending amounted to $647.7 billion, which is 5.6% above the $613.1 billion for the same period in 2015.
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Private construction: Spending on private construction was at a seasonally adjusted annual rate of $875 billion, 1% above the revised June estimate of $866.5 billion.
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Nonresidential construction: It was at a seasonally adjusted annual rate of $429.5 billion in July, 1.7% above the revised June estimate of $422.5 billion.
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Public construction: In July, the estimated seasonally adjusted annual rate of public construction spending was $278.2 billion, 3.1% below the revised June estimate of $287 billion.
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Educational construction: It was at a seasonally adjusted annual rate of $64.6 billion, 8.3% below the revised June estimate of $70.4 billion.
For more detailed data and methodologies, visit www.census.gov/constructionspending.
