Construction Spending Flat In July

Compiled ByJill Jusko Construction spending during July 2002 was estimated at a seasonally adjusted annual rate of $834.1 billion, a figure that is virtually unchanged from the previous month and 1.1% below the figure for the same month a year ago, the U.S. Commerce Department's Census Bureau reported Sept. 4. Spending on new residential housing was at a seasonally adjusted rate of $295.4 billion in July, up 0.1% above the revised June estimate. Non-residential building construction was at a rate of $162.1 billion, seasonally adjusted. Public construction was estimated at a seasonally adjusted annual rate of $198.7 billion, 0.9% above the previous month.