July construction spending dips 0.2%
Construction spending during July was estimated at a seasonally adjusted annual rate of $2,139.1 billion, 0.1% (±0.8%) below the revised June estimate of $2,140.5 billion, according to the U.S. Census Bureau.
The July figure is 2.8% (±1.5%) below the July 2024 estimate of $2,200.7 billion. During the first seven months of this year, construction spending amounted to $1,232.7 billion, 2.2% (±1.0%) below the $1,259.9 billion for the same period in 2024.
Spending on private construction was at a seasonally adjusted annual rate of $1,623.3 billion, 0.2% (±0.5%) below the revised June estimate of $1,626.3 billion. Residential construction was at a seasonally adjusted annual rate of $886.5 billion in July, 0.1% (±1.3%)* above the revised June estimate of $885.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $736.7 billion in July, 0.5% (±0.5%)* below the revised June estimate of $740.4 billion.
In July, the estimated seasonally adjusted annual rate of public construction spending was $515.8 billion, 0.3% (±1.6%) above the revised June estimate of $514.3 billion. Educational construction was at a seasonally adjusted annual rate of $111.7 billion, 0.1% (±1.8%) below the revised June estimate of $111.8 billion. Highway construction was at a seasonally adjusted annual rate of $142.8 billion, 0.1% (±4.8%) below the revised June estimate of $142.9 billion.
INDUSTRIAL SUPPLY MAGAZINE
The September/October issue of Industrial Supply magazine features an in-depth cover story about American Producers Supply. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
