Connect With PPD
Follow Us:
Economy

Construction Spending Gains Slightly in July, Revised Higher for June

Total Construction Spending Down 2.7% Year-Over-Year

The U.S. Census Bureau estimated total construction spending at a seasonally adjusted annual rate of $1,288.8 billion, or 0.1% (±1.3%) above the upwardly revised June estimate of $1,288.1 billion. Construction spending for July is 2.7% (±1.6%) below the July 2018 estimate of $1,324.8 billion.

Monthly forecasts ranged from a low of 0.2% to a high of 0.7%, with the consensus forecast coming in at 0.3%.

Construction Spending (July)PriorRevisedConsensus ForecastForecast RangeActual
M/M ∆-1.3%-0.70.3%0.2% to 0.7%0.1%
Y/Y ∆-2.1%

During the first seven months of this year, construction spending amounted to $733.8 billion, 2.1 percent (±1.2 percent) below the $749.9 billion for the same period in 2018.

Private Construction

Spending on private construction was estimated at a seasonally adjusted annual rate of $963.1 billion, down 0.1% (±0.7%)* from the revised June estimate of $963.7 billion.

Residential construction was estimated at a seasonally adjusted annual rate of $506.7 billion in July, up 0.6% (±1.3%)* from the revised June estimate of $503.5 billion.

Nonresidential construction was estimated at a seasonally adjusted annual rate of $456.4 billion in July, down 0.8% (±0.7%) from the revised June estimate of $460.2 billion.

Public Construction

In July, the estimated seasonally adjusted annual rate of public construction spending was $325.7 billion, or 0.4% (±2.5%)* higher than the revised June estimate of $324.3 billion.

Educational construction was estimated at a seasonally adjusted annual rate of $73.3 billion, or 1.6% (±2.8%)* higher than the revised June estimate of $72.1 billion.

Highway construction was estimated at a seasonally adjusted annual rate of $97.0 billion, down 2.7% (±6.4%)* from the revised June estimate of $99.7 billion.

*The 90 percent confidence interval includes zero. There is insufficient evidence to conclude that the actual change is different from zero.

READ FULL STORY

SubscribeSign In
PPD Business Staff

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Share
Published by
PPD Business Staff

Recent Posts

Media’s Worst Russian Collusion Sins May Soon Be Repeated

The most damning journalistic sin committed by the media during the era of Russia collusion…

1 year ago

Study: Mask-Mandates and Use Not Associated With Lower Covid-19 Case Growth

The first ecological study finds mask mandates were not effective at slowing the spread of…

3 years ago

Barnes and Baris on Big Tech’s Arbitrary Social Media Bans

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…

4 years ago

Barnes and Baris on Why America First Stands With Israel

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…

4 years ago

Personal Income Fell Significantly in February, Consumer Spending Weaker than Expected

Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…

4 years ago

Study: Infection, Vaccination Protects Against Covid-19 Variants

Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…

4 years ago

This website uses cookies.