JULY 2014 CONSTRUCTION AT $981.3 BILLION ANNUAL RATE
The U.S. Census Bureau of the Department of Commerce announced that construction spending during July 2014 was estimated at a seasonally adjusted annual rate of $981.3 billion, 1.8 percent (± 1.6 %) above the revised June estimate of $963.7 billion. The July figure is 8.2 percent (± 2.3 %) above the July 2013 estimate of $906.6 billion. During the first 7 months of this year, construction spending amounted to $535.4 billion, 7.9 percent (± 1.5 %) above the $496.3 billion for the same period in 2013.
PRIVATE CONSTRUCTION S
pending on private construction was at a seasonally adjusted annual rate of $701.7 billion, 1.4 percent (± 0.8 %) above the revised June estimate of $692.2 billion. Residential construction was at a seasonally adjusted annual rate of $358.1 billion in July, 0.7 percent (± 1.3 %) * above the revised June estimate of $355.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $343.6 billion in July, 2.1 percent (± 0.8 %) above the revised June estimate of $336.6 billion.
PUBLIC CONSTRUCTION In July, the estimated seasonally adjusted annual rate of public construction spending was $279.6 billion, 3.0 percent (± 3.0 %) * above the revised June estimate of $271.5 billion. Educational construction was at a seasonally adjusted annual rate of $63.5 billion, 1.6 percent (± 4.9 %) * above the revised June estimate of $62.5 billion. Highway construction was at a seasonally adjusted annual rate of $84.8 billion, 6.9 percent (± 7.7 %) * above the revised June estimate of $79.3 billion.