Monthly Construction Spending, July 2024
The U.S. Census Bureau has released a report on July 2024 construction spending.
According to the U.S. Census Bureau, construction spending during July 2024 was estimated at a seasonally adjusted annual rate of $2,162.7 billion, 0.3 percent (±1.0 percent)* below the revised June estimate of $2,169.0 billion. The July figure is 6.7 percent (±1.8 percent) above the July 2023 estimate of $2,027.4 billion. During the first seven months of this year, construction spending amounted to $1,237.5 billion, 8.8 percent (±1.2 percent) above the $1,137.4 billion for the same period in 2023.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,678.7 billion, 0.4 percent (±0.7 percent)* below the revised June estimate of $1,685.5 billion. Residential construction was at a seasonally adjusted annual rate of $941.6 billion in July, 0.4 percent (±1.3 percent)* below the revised June estimate of $945.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $737.2 billion in July, 0.4 percent (±0.7 percent)* below the revised June estimate of $740.2 billion.
Public Construction
In July, the estimated seasonally adjusted annual rate of public construction spending was $484.0 billion, 0.1 percent (±1.8 percent)* above the revised June estimate of $483.5 billion. Educational construction was at a seasonally adjusted annual rate of $100.8 billion, 0.9 percent (±2.6 percent)* below the revised June estimate of $101.8 billion. Highway construction was at a seasonally adjusted annual rate of $140.9 billion, 0.8 percent (±4.6 percent)* below the revised June estimate of $142.0 billion.
