Construction spending in July was at a seasonally adjusted rate of $789.5 billion, 1.3 percent below the revised June estimate of $799.8 billion. The latest figure is 0.1 percent above the July 2010 estimate of $789.0 billion. For the first seven months of 2011, construction spending amounted to $435.5 billion, 3.5 percent below the $451.2 billion for the same period in 2010.
Private construction spending in July was at a seasonally adjusted annual rate of $514.5 billion, 0.9 percent below the revised June estimate of $519.0 billion. Specifically, residential construction was at a seasonally adjusted annual rate of $248.1 billion in July, 1.4 percent below the revised June estimate of $251.7 billion.
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