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Value of New Construction Shows Little Change in July at $1,288.8 Billion

According to the U.S. Census Dept., the July figure is -2.7% below the July 2018 estimate of $1,324.8 billion.

Construction spending during July 2019 was estimated at a seasonally adjusted annual rate of $1,288.8 billion, +0.1 percent above the revised June estimate of $1,288.1 billion. During the first seven months of this year, construction spending amounted to $733.8 billion, -2.1% below the $749.9 billion for the same period in 2018.
Private construction. Spending on private construction was at a seasonally adjusted annual rate of $963.1 billion, -0.1% below the revised June estimate of $963.7 billion. Residential construction was at a seasonally adjusted annual rate of $506.7 billion in July, +0.6%  above the revised June estimate of $503.5 billion. At $268.1 billion, new single-family construction was down -8.5% year-over-year (YOY).

Nonresidential construction was at a seasonally adjusted annual rate of $456.4 billion in July, -0.8% below the revised June estimate of $460.2 billion.
Private health care construction was one of the stronger segments on both a month-to-month and year-over-year basis. At $35.7 billion, health care is up +1.5% month-to-month and +9.7% YOY.
Public construction. In July, the estimated seasonally adjusted annual rate of public construction spending was $325.7 billion, +0.4%  above the revised June estimate of $324.3 billion. Educational construction was at a seasonally adjusted annual rate of $73.3 billion, +1.6%  above the revised June estimate of $72.1 billion and down -0.9% from July 2018.

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