The US Census Bureau announced that construction spending during July 2021 was estimated at a seasonally adjusted annual rate of $1,568.8 billion, 0.3 percent (±1.2 percent) above the revised June estimate of $1,563.4 billion. The July figure is 9.0 percent (±1.5 percent) above the July 2020 estimate of $1,439.6 billion.
During the first seven months of this year, construction spending amounted to $883.2 billion, 6.2 percent (±1.0 percent) above the $831.5 billion for the same period in 2020.
Spending on private construction was at a seasonally adjusted annual rate of $1,231.0 billion, 0.3 percent (±0.7 percent) above the revised June estimate of $1,227.8 billion. Residential construction was at a seasonally adjusted annual rate of $773.0 billion in July, 0.5 percent (±1.3 percent) above the revised June estimate of $768.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $458.0 billion in July, 0.2 percent (±0.7 percent) below the revised June estimate of $458.9 billion.
In July, the estimated seasonally adjusted annual rate of public construction spending was $337.8 billion, 0.7 percent (±2.1 percent) above the revised June estimate of $335.6 billion. Educational construction was at a seasonally adjusted annual rate of $79.7 billion, 0.5 percent (±2.3 percent) below the revised June estimate of $80.1 billion. Highway construction was at a seasonally adjusted annual rate of $94.5 billion, 1.9 percent (±6.4 percent) above the revised June estimate of $92.7 billion.