Construction Spending Flat in July

Posted To: MND NewsWire

Construction spending was largely unchanged in July according to data released Thursday by the U.S. Census Bureau. Spending on all public and privately funded building was at a seasonally adjusted annual rate of $1.1532 trillion, statistically unchanged from the $1.1535 trillion rate in June. The July rate was 1.5 percent higher than the July 2015 pace of $1.1359 trillion. Year-to-date spending through July is estimated at $647.7 billion, 5.6 percent higher than all construction spending in the first seven months of last year. Spending on privately funded construction overall was at a seasonally adjusted annual rate of $875.0 billion, up 1.0 percent from June and 4.4 percent higher than a year earlier. Year-to-date private spending, at $489.48 billion, is up 7.5 percent from the same period...(read more)

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