According to the U.S. Census Bureau of the Department of Commerce, total construction spending for July 2015 was estimated at a seasonally adjusted annual rate of $1,083.4 billion. This rate is up 0.7 percent from the revised June estimate of $1,075.9 billion, and is 13.7 percent above the July 2014 estimate of $952.5 billion. Construction spending has totaled to the amount of $583.2 billion for the first seven months of 2015, an increase of 9.3 percent compared to the $533.7 billion for the same period in 2014.
Private construction spending in July was estimated at a seasonally adjusted annual rate of $787.8 billion, an increase of 1.3 percent from June’s revised estimate of $777.4 billion. Residential construction spending for July was at a seasonally adjusted annual rate of $380.8 billion, up 1.1 percent from the previous month’s revised estimate of $376.6 billion. Nonresidential construction spending for July was estimated at $407.0 billion, up 1.5 percent from June’s revised estimate of $400.8 billion.
Public construction spending was estimated at a seasonally adjusted annual rate of $295.6 billion, down 1.0 percent from June’s revised estimate of $298.5 billion. Educational construction spending for July was at an adjusted rate of $66.4 billion, down 3.0 percent from the revised June estimate of $68.4 billion. Highway construction spending was estimated at an adjusted rate of $90.3 billion for July, decreasing by 0.2 percent from June’s revised estimate of $90.5 billion.
For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.
