Construction Spending in July 5.2% Greater Than a Year Ago

The US Census Bureau of the Department of Commerce released its Value of Construction Put in Place Survey results today. According to the press release, on a seasonally adjusted annual rate, private residential construction spending in July reached an estimated $631.4 billion and was 0.9% greater than June’s estimation of $625.6 billion. What is more, private residential construction spending was 0.6% greater in July, at an estimated $334.6 billion, compared to June when spending was at an estimated $332.7 billion. Overall construction spending in July reached a $900.8 billion annual rate, 0.6% greater than in June and 5.2% greater than July 2012. Read more at http://1.usa.gov/18plUiB.

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