Construction spending rose 0.6 percent June to July, the U.S. Census Bureau News
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.
Most Popular Stories
- Steven Sotloff Beheading Video Claimed by Islamic State
- Apple Planning to Launch Mobile Wallet
- Fantasy Football Gambling Industry Facing Increased Legal Scrutiny
- Durant Spurns Under Armour to Return to Nike
- Netflix Unveils New Way to Share Picks
- Men Are the Big Winners in the Jobs Recovery
- Challenge to Texas Voter ID Begins
- Auto Industry Going Back to Bad Habits
- Construction Spending Staged Strong Rebound in July
- Celebrities Vow Revenge on Hackers Who Posted Photos