Total U.S. construction spending in July inched up 0.1 percent from June to a seasonally adjusted annual rate of $1.315 billion, according to the U.S. Census Bureau.
The month’s spending is a 5.8 percent increase from construction spending in July 2017.
Residential construction spending was 6.6 percent above July 2017 numbers and grew 0.6 percent compared with June. Nonresidential construction spending inched back 0.3 percent from June, but is 5.3 percent above July 2017 spending.
Private construction had a decline of 0.1 percent from June, as public construction grew 0.7 percent; both categories remained ahead of July 2017 spending by 5.1 percent and 8.3 percent, respectively.
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