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September 02, 2014US CONSTRUCTION SPENDING, JULY 2014 U.S. construction spending increased 1.8 percent in July 2014 to a seasonally adjusted annual rate of $981.3 billion. Compared to July 2013, construction spending was 8.2 percent higher.
Spending on private construction increased 1.4 percent from June 2014 to $701.7 billion (seasonally adjusted annual rate), 10.9 percent above the July 2013 estimate. Private residential construction increased 0.7 percent compared to the June 2014 estimate, and is up 8.0 percent compared to a year ago. Construction spending rose for both new single family (+9.4%) and multi-family (+41.0% compared to July of last year.
Private non-residential construction grew 2.1 percent in July and is up 14.1 percent compared to last year. In July 2014, over half of US private nonresidential construction spending was allocated to Power (28.5%), Manufacturing (16.9%), and Commercial (15.2%).
Public sector spending grew 3.0 percent from June 2014 to a seasonally adjusted annual rate of $279.6 billion, and is up 2.1 percent compared to July 2013. Construction spending fell for public residential (-15.9%) and grew slightly for public nonresidential (2.5%) compared to July of last year.
In July 2014, over half of US public nonresidential construction spending was allocated to Highway and Streets (30.9%), Educational (23.1%), and Transportation (10.9%).
US Census Bureau, September 2, 2014