Value of New Construction Down 0.9% to $834.4 Billion in July But Up 9.3% YTD

Value of New Construction Down 0.9% to $834.4 Billion in July But Up 9.3% YTD

The Department of Commerce said construction spending during July 2012 was estimated at a seasonally adjusted annual rate of $834.4 billion, 0.9 percent below the revised June estimate of $842.2 billion. The July figure is 9.3 percent above the July 2011 estimate of $763.5 billion. During the first seven months of this year, construction spending amounted to $464.4 billion, 9.3 percent above the $425 billion for the same period in 2011.

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TAGS: Economy
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