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During the first seven months of this year, construction spending amounted to $543.8 billion, 11.4% below the $613.5 billion for the same period in 2008.
Spending on private construction was at a seasonally adjusted annual rate of $630.4 billion, 0.1% above the revised June estimate of $629.6 billion. Residential construction was at a seasonally adjusted annual rate of $245.6 billion in July, 2.3% above the revised June estimate of $240.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $384.9 billion in July, 1.2% below the revised June estimate of $389.5 billion.
In July, the estimated seasonally adjusted annual rate of public construction spending was $327.6 billion, 0.7% below the revised June estimate of $329.9 billion. Educational construction was at a seasonally adjusted annual rate of $90.8 billion, 1.3% below the revised June estimate of $92.0 billion. Highway construction was at a seasonally adjusted annual rate of $83.8 billion, 1.0% below the revised June estimate of $84.7 billion.
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| Digital Strategy Manager | Border States Electric | Fargo North Dakota |
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