Construction spending rose 0.3 percent in July
Construction spending during July 2021 was estimated at a seasonally adjusted annual rate of $1,568.8 billion, 0.3 percent above the revised June estimate of $1,563.4 billion.
The July figure is 9.0 percent above the July 2020 estimate of $1,439.6 billion. During the first seven months of this year, construction spending amounted to $883.2 billion, 6.2 percent above the $831.5 billion for the same period in 2020.
Spending on private construction was at a seasonally adjusted annual rate of $1,231.0 billion, 0.3 percent above the revised June estimate of $1,227.8 billion. Residential construction was 0.5 percent above the revised June estimate of $768.9 billion. Nonresidential construction was 0.2 percent below the revised June estimate of $458.9 billion.
Public construction spending was $337.8 billion, 0.7 percent above the revised June estimate of $335.6 billion. Educational construction was 0.5 percent below June. Highway construction was 1.9 percent above June estimate.