The U.S. Census Bureau of the Department of Commerce announced that construction spending during July 2012 was estimated at a seasonally adjusted annual rate of $834.4 billion, 0.9 percent (±1.8%) below the revised June estimate of $842.2 billion. The July figure is 9.3 percent (±2.3%) above the July 2011 estimate of $763.5 billion.

During the first 7 months of this year, construction spending amounted to $464.4 billion, 9.3 percent (±1.5%) above the $425.0 billion for the same period in 2011.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $558.7 billion, 1.2 percent (±1.3%) below the revised June estimate of $565.6 billion. Residential construction was at a seasonally adjusted annual rate of $264.6 billion in July, 1.6 percent (±1.3%) below the revised June estimate of $268.9 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $294.1 billion in July, 0.9 percent (±1.3%)* below the revised June estimate of $296.7 billion.

Public Construction

In July, the estimated seasonally adjusted annual rate of public construction spending was $275.7 billion, 0.4 percent (±2.8%) below the revised June estimate of $276.7 billion. Educational construction was at a seasonally adjusted annual rate of $66.0 billion, 0.6 percent (±4.4%) below the revised June estimate of $66.4 billion. Highway construction was at a seasonally adjusted annual rate of $81.2 billion, 0.3 percent (±7.2%) below the revised June estimate of $81.4 billion.

Read the full July 2012 U.S. Census Bureau Construction Spending Report.