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Posted September 1, 2016

July construction rate holds steady over June

Year to date construction spending trends 5.6 percent above 2015.


The U.S. Census Bureau of the Department of Commerce announced today that construction spending during July 2016 was estimated at a seasonally adjusted annual rate of $1,153.2 billion, nearly the same as (±1.5%)* the revised June estimate of $1,153.5 billion.

The July figure is 1.5 percent (±2.3%)* above the July 2015 estimate of $1,135.9 billion. During the first 7 months of this year, construction spending amounted to $647.7 billion, 5.6 percent (±1.3%) above the $613.1 billion for the same period in 2015.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $875.0 billion, 1.0 percent (±1.5%)* above the revised June estimate of $866.5 billion.

Residential construction was at a seasonally adjusted annual rate of $445.5 billion in July, 0.3 percent (±1.3%)* above the revised June estimate of $444.0 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $429.5 billion in July, 1.7 percent (±1.5%) above the revised June estimate of $422.5 billion.

PUBLIC CONSTRUCTION

In July, the estimated seasonally adjusted annual rate of public construction spending was $278.2 billion, 3.1 percent (±2.6%) below the revised June estimate of $287.0 billion.

Educational construction was at a seasonally adjusted annual rate of $64.6 billion, 8.3 percent (±3.9%) below the revised June estimate of $70.4 billion.

Highway construction was at a seasonally adjusted annual rate of $89.8 billion, 0.3 percent (±6.4%)* above the revised June estimate of $89.5 billion.

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