Construction spending in July was at a seasonally adjusted annual rate of $1,211.5 billion, a 0.6 percent decline compared with June’s rate of $1,219.2 billion but 1.8 percent above July 2016’s rate of $1,189.8 billion, according to the U.S. Census Bureau.
Private construction spending during July was at a seasonally adjusted annual rate of $945.5 billion, 0.4 percent down from June’s rate of $949.4 billion. Residential construction was at a rate of $517.5 billion, 0.8 percent higher than June’s rate of $513.2 billion. Nonresidential construction was at a rate of $428 billion, 1.9 percent below June’s rate of $436.2 billion.
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