According to the U.S. Census Bureau of the Department of Commerce, total construction spending for July 2013 was estimated at a seasonally adjusted annual rate of $900.8 billion. This rate is up 0.6 percent from the revised June estimate of $895.7 billion and is 5.2 percent above the July 2012 estimate of $856.3 billion. Construction spending totaled to $493.9 billion during the first 7 months of this year, which is 5.6 percent above the $467.7 billion amount for the same period in 2012.
Private construction spending was estimated at a seasonally adjusted annual rate of $631.4 billion, which is up 0.9 percent from June’s revised estimate of $625.6 billion. Residential construction spending for July was at a seasonally adjusted annual rate of $334.6 billion, up 0.6 percent from the revised June estimate of $332.7 billion. Nonresidential construction spending for July was estimated at a seasonally adjusted annual rate of $296.8 billion, up 1.3 percent from June’s revised estimate of $293.0 billion.
As for public construction spending, the estimated seasonally adjusted annual rate for July was $269.4 billion, down 0.3 percent from the revised June estimate of $270.1 billion. Educational construction spending was at an adjusted rate of $62.9 billion, down 1.5 percent from June’s revised estimate of $63.8 billion. Highway construction spending was estimated at a seasonally adjusted annual rate of $78.0 billion, down 1.1 percent from the revised June estimate of $78.8 billion.
For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.
