Construction Spending Annual Rates for July 2016

September 2, 2016

Eli Y. Robbins Construction Law


According to the U.S. Census Bureau of the Department of Commerce, total construction spending for July 2016 was estimated at a seasonally adjusted annual rate of $1,153.2 billion, remaining nearly the same as June’s revised estimate of $1,153.5 billion, and is 1.5 percent above the July 2015 estimate of $1,135.9 billion.  Construction spending has totaled to the amount of $647.7 billion for the first seven months of 2016, an increase of 5.6 percent compared to the $613.1 billion for the same period in 2015.

Private construction spending in July was estimated at a seasonally adjusted annual rate of $875.0 billion, an increase of 1.0 percent from June’s revised estimate of $866.5 billion.  Residential construction spending for July was at a seasonally adjusted annual rate of $445.5 billion, up 0.3 percent from the previous month’s revised estimate of $444.0 billion.  Nonresidential construction spending for July was estimated at $429.5 billion, up 1.7 percent from June’s revised estimate of $422.5 billion.

Public construction spending was estimated at a seasonally adjusted annual rate of $278.2 billion, down 3.1 percent from June’s revised estimate of $287.0 billion.  Educational construction spending for July was at an adjusted rate of $64.6 billion, down 8.3 percent from the revised June estimate of $70.4 billion.  Highway construction spending was estimated at an adjusted rate of $89.8 billion for July, increasing by 0.3 percent from June’s revised estimate of $89.5 billion.

For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.