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Public Sector Spending Helping Residential Construction

Spending on residential construction continued to outpace construction in general in July although new home construction appeared to falter.  The U.S. Census Bureau reports that total spending on construction during the month was at a seasonally adjusted annual rate of $1.315 trillion.  This is a 0.1 percent improvement over the revised June estimate of $1.314 trillion and is up 5.8 percent compared to July 2017, with the percentage gains coming from public sector projects. On a non-seasonally adjusted basis total construction spending during the month was $121,473 billion compared to $118,737 billion in June.  

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