July 2024 U.S. construction spending was at a seasonally adjusted annual rate of $2,162.7 billion, down 0.3% from June 2024. However, the July figure was up 6.7% compared with one year ago.
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For the first seven months of 2024, construction spending is $1,237.5 billion, 8.8% above the prior-year period.
Spending on private construction ($1,678.7 billion) was below June. Residential construction was $941.6 billion in July, 0.4% below June, while nonresidential construction spending was down 0.4%.
Public construction projects came in at 0.1% above June at $484 billion. Educational construction was at $100.8 billion, 0.9% below June. Highway construction reached $140.9 billion, a decrease of 0.8%.
