July Construction Spending Rises A Bit

ByJohn S. McClenahen According to data released on Sept. 1, the U.S. Commerce Department figures that construction put in place across the U.S. during July was at a seasonally adjusted annual arte of $997.2 billion, four-tenths of a percentage point higher than June's rate. Spending on private homes and such non-residential construction as offices and manufacturing plants was at a seasonally adjusted annual rate of $758.3 billion, four-tenths of a percentage point above the revised June figure of $755.3 billion. Residential construction was at a rate of $537.5 billion in July; non-residential construction was at a rate of $220.8 billion. The Commerce Department's estimated seasonally adjusted annual rate for public construction in July was $238.9 billion, up six-tenths of a percentage point from June's rate of $237.6 billion.