Sep 4, 201209:46 AMBlog

Construction spending pulls back in July

Sep 4, 2012 - 09:46 AM

Construction spending during July totaled a seasonally adjusted $834.4 billion, 0.9 percent below the revised June estimate of $842.2 billion, according to the U.S. Census Bureau of the Department of Commerce. The July figure is 9.3 percent higher than the July 2011 of $763.5 billion.

During the first seven months of this year, construction spending totaled $464.4 billion, 9.3 percent higher than the $425 billion recorded for the same period in 2011.

Spending on private construction was at a seasonally adjusted annual rate of $558.7 billion, 1.2 percent below the revised June estimate of $565.6 billion. Residential construction was at a seasonally adjusted annual rate of $264.6 billion, 1.6 percent below the revised June estimate of $268.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $294.1 billion in, 0.9 percent below the revised June estimate of $296.7 billion.

In July, the estimated seasonally adjusted annual rate of public construction spending was $275.7 billion, 0.4 percent below the revised June estimate of $276.7 billion. Educational construction was at a seasonally adjusted annual rate of $66 billion, 0.6 percent below the revised June estimate of $66.4 billion. Highway construction was at a seasonally adjusted annual rate of $81.2 billion, 0.3 percent below the revised June estimate of $81.4 billion.

            

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