Construction spending during July 2009 was estimated at a seasonally adjusted annual rate of $958.0 billion, 0.2 percent below the revised June estimate of $959.5 billion, according to the U.S. Census Bureau. The July figure is 10.5 percent below the July 2008 estimate of $1,070.2 billion. During the first seven months of 2009, construction spending amounted to $543.8 billion, 11.4 percent below the $613.5 billion for the same period in 2008.
Private construction. Spending on private construction was at a seasonally adjusted annual rate of $630.4 billion, 0.1 percent above the revised June estimate of $629.6 billion. Residential construction was at a seasonally adjusted annual rate of $245.6 billion in July, 2.3 percent above the revised June estimate of $240.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $384.9 billion in July, 1.2 percent below the revised June estimate of $389.5billion.
Public construction. In July, the estimated seasonally adjusted annual rate of public construction spending was $327.6 billion, 0.7 percent below the revised June estimate of $329.9 billion. Educational construction was at a seasonally adjusted annual rate of $90.8 billion, 1.3 percent below the revised June estimate of $92.0 billion.
Residential construction. Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 560,000. This is 1.8 percent below the revised June rate of 570,000 and is 39.4 percent below the July 2008 estimate of 924,000. Single-family authorizations in July were at a rate of 458,000; this is 5.8 percent above the revised June figure of 433,000. July authorizations of units in buildings with five units or more were at a rate of 84,000.