Commerce Dept. Reports Value of New Construction Down 1.3 Percent in July

The U.S. Census Bureau of the Department of Commerce said construction spending during July 2011 was estimated at a seasonally adjusted annual rate of $789.5 billion, 1.3 percent below the revised June estimate of $799.8 billion. The July figure is 0.1 percent above the July 2010 estimate of $789 billion. During the first seven months of this year, construction spending amounted to $435.5 billion, 3.5 percent below the $451.2 billion for the same period in 2010.

Private construction.

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