July construction spending was estimated at a seasonally adjusted annual rate of $1,211.5 billion, down 0.6 percent compared to the revised June estimate of $1,219.2 billion, according to the U.S. Census Bureau of the Department of Commerce. The July figure is 1.8 percent above the July 2016 estimate of $1,189.8 billion.
During the first seven months of this year, construction spending amounted to $691.2 billion, 4.7 percent above the $659.9 billion for the same period in 2016.
Spending on private construction was at a seasonally adjusted annual rate of $945.5 billion, 0.4 percent below the revised June estimate of $949.4 billion. Residential construction was at a seasonally adjusted annual rate of $517.5 billion in July, 0.8 percent above the revised