News Column

Construction Outlays Rose in July

Sept. 3, 2013
Construction Outlays

Construction spending rose 0.6 percent June to July, the U.S. Census Bureau News reported Tuesday.

Total construction spending in June was revised to a seasonally adjusted annual rate of $895.7 billion. In July, the bureau said, spending came to $900.8 billion, which is 5.2 percent higher than construction outlays in July 2012, when spending came to $856.3 billion.

Spending on private-sector projects totaled $631.4 billion on a seasonally adjusted basis, 0.9 percent above the revised June estimate of $625.6 billion.

In July, a seasonally adjusted annual rate of $334.6 billion was spent on residential projects, a 0.6 percent climb from June's revised rate of $332.7. Private spending on commercial projects came to a seasonally adjusted annual rate of $296.8 billion in July, 1.3 percent above the revised June estimate of $293 billion.

The estimated seasonally adjusted annual rate of public construction spending in July was $269.4 billion, 0.3 percent below than the revised June estimate of $270.1 billion.

Educational construction was at a seasonally adjusted annual rate of $62.9 billion, down 1.5 percent from June's revised rate of $63.8 billion. Highway construction was at a seasonally adjusted annual rate of $78 billion, down 1.1 percent from June's revised estimate of $78.8 billion, the department said.



Source: Copyright UPI 2013