Construction spending dipped in July
Construction spending during July 2022 was estimated at a seasonally adjusted annual rate of $1,777.3 billion, 0.4 percent below the revised June estimate of $1,784.3 billion.
The July figure is 8.5 percent above the July 2021 estimate of $1,637.3 billion. During the first seven months of this year, construction spending amounted to $1,013.7 billion, 10.8 percent above the $915.2 billion for the same period in 2021.
Spending on private construction was at a seasonally adjusted annual rate of $1,424.2 billion, 0.8 percent below the revised June estimate of $1,436.4 billion. Residential construction was at a seasonally adjusted annual rate of $920.4 billion in July, 1.5 percent below the revised June estimate of $934.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $503.9 billion in July, 0.4 percent above the revised June estimate of $502.1 billion.
In July, the estimated seasonally adjusted annual rate of public construction spending was $353.1 billion, 1.5 percent above the revised June estimate of $347.9 billion. Educational construction was at a seasonally adjusted annual rate of $77.2 billion, 0.1 percent below the revised June estimate of $77.3 billion. Highway construction was at a seasonally adjusted annual rate of $102.7 billion, 4.3 percent above the revised June estimate of $98.4 billion.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
