July U.S. Construction Spending Inches Up

U.S. construction spending in July was estimated at a seasonally adjusted annual rate of $1.57 trillion, rising 0.3% from June and up 9.0% from the year prior.  Private construction spending rose 0.3% from June to a seasonally adjusted annual rate of $1.23 trillion.  Residential levels for July rose 0.5% from the previous month to $773 billion, while non-residential totals dipped 0.2% from June to $458 billion.  See U.S. Census Bureau