Total construction spending was down 1.2% in July

Total construction activity for July 2006 ($1,200 billion) was 1.2 percent below the revised June 2006 ($1,214.2 billion), according to the U.S. Census Bureau of the Department of Commerce.

During the first 7 months of this year, construction spending amounted to $680.4 billion, 8.0 percent (±1.9%) above the $630.2 billion for the same period in 2005.

PRIVATE CONSTRUCTION: Spending on private construction was at a seasonally adjusted annual rate of $930.9 billion, 1.3 percent below the revised June estimate of $943.2 billion. Residential construction was at a seasonally adjusted annual rate of $627.4 billion in July, 2.0 percent below the revised June estimate of $640.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $303.5 billion in July, 0.3 percent above the revised June estimate of $302.7 billion.

PUBLIC CONSTRUCTION: In July, the estimated seasonally adjusted annual rate of public construction spending was $269.1 billion, 0.7 percent below the revised June estimate of $271.1 billion. Educational construction was at a seasonally adjusted annual rate of $69.9 billion, 1.0 percent above the revised June estimate of $69.2 billion. Highway construction was at a seasonally adjusted annual rate of $76.6 billion, 0.6 percent below the revised June estimate of $77.0 billion.

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