Public Sector Spending Helping Residential Construction

Posted To: MND NewsWire

Spending on residential construction continued to outpace construction in general in July although new home construction appeared to falter . The U.S. Census Bureau reports that total spending on construction during the month was at a seasonally adjusted annual rate of $1.315 trillion. This is a 0.1 percent improvement over the revised June estimate of $1.314 trillion and is up 5.8 percent compared to July 2017, with the percentage gains coming from public sector projects. On a non-seasonally adjusted basis total construction spending during the month was $121,473 billion compared to $118,737 billion in June. For the year-to-date (TYD) through the end of July there have been expenditures of 740,485 billion, a 5.2 percent increase over the same period last year. Privately funding construction...(read more)

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