U.S. construction spending in July was estimated at a seasonally adjusted annual rate of $2.16 trillion, dipping 0.3% from June but 6.7% higher than the same month in 2023.
Private spending fell 0.4% to $1.68 trillion in July. Residential and non-residential expenditures both dropped 0.4% from June to $941.6 billion and $737.2 billion, respectively.
In both the private and public sectors, educational spending was $125.0 billion, shrinking 0.9% from last month but up 3.9% from July 2023. Construction spending in healthcare was $65.8 billion, 2.0% lower than June but increased 1.9% from the comparable month last year. Commercial construction spending totaled $125.1 billion, a decline of 0.2% from June and 13.3% from July 2023. See U.S. Census Bureau
