Construction Spending Up in July

U.S. construction spending in July was estimated at a seasonally adjusted annual rate of $2.0 trillion, rising 0.7% from June and 5.5% higher than the same month last year. Year-to-date construction spending increased 3.7% to $1.1 trillion compared to the first seven months of 2022.

Private construction spending was $1.5 trillion, climbing 1.0% from June. Residential totals were $879.0 billion in July, 1.4% higher than the previous month. Non-residential spending was $670.0 billion, rising 0.5% from June. See U.S. Census Bureau

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