Keeping you up to date on the latest data releases.
- Construction Spending
Private construction spending rose to $631.4 billion in July, 0.9 percent higher than the upwardly revised June estimate of $625.6 billion. July’s results are 9.5 percent higher on a year-over-year basis. Residential construction spending rose 0.6 percent over the month, to $334.6 billion. New multifamily construction spending edged up 0.1 percent in July and is up 39.3 percent year-over-year. New single-family construction rose 0.5 percent and is up 29.3 percent since last July. Private nonresidential construction spending was at $296.8 billion, 1.3 percent above the upwardly revised June estimate of $293.0 billion. Eight of the eleven nonresidential sectors saw month-to-month increases in construction spending with the lodging sector posting the largest monthly increase of 6.1 percent. The amusement and recreation and religious sectors reported the largest monthly declines of 3.2 and 3.1 percent, respectively.