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U.S. Construction Spending Rises in July

U.S. construction spending during July was estimated at a seasonally adjusted annual rate of $1.3 trillion, inching 0.1% above June and 5.8% higher than the year ago period. Year-to-date spending was up 5.2% from 2017 at a total of $740.5 billion.

Private construction spending in July slipped 0.1% below June to a seasonally adjusted annual rate of $1.0 trillion. Residential levels were up 0.6% from the previous month to $560.1 billion and non-residential totals decreased 1% from June to $450.9 billion. See U.S. Census Bureau

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