Posted September 1, 2010
Construction spending fell in July
Construction spending fell by 1 percent in July compared to June, according to the Department of Commerce.
Spending for July was estimated at a seasonally adjusted annual rate of $805.2 billion. The July figure is 10.7 percent below the July 2009 estimate of $901.2 billion.
During the first 7 months of this year, construction spending amounted to $460.3 billion, 11.8 percent below the $522.0 billion for the same period in 2009.
Spending on private construction was at a seasonally adjusted annual rate of $506.4 billion, 0.8 percent below the revised June estimate of $510.7 billion.
In July, the estimated seasonally adjusted annual rate of public construction spending was $298.8 billion, 1.2 percent below the revised June estimate of $302.4 billion.
