Public Construction Down in July

 

Highway construction was at a seasonally adjusted annual rate of $83.8 billion, 1.0 percent (plus or minus 7%)* below the revised June estimate of $84.7 billion. Courtesy of AsphaltContractors.com

In July, the estimated seasonally adjusted annual rate of public construction spending was $327.6 billion, 0.7 percent below the revised June estimate of $329.9 billion. Educational construction was at a seasonally adjusted annual rate of $90.8 billion, 1.3 percent below the revised June estimate of $92.0 billion. It's a bit surprising that highway construction was down, considering the billions of dollars poured into infrastructure improvements by the American Recovery and Reinvestment Act.

Courtesy of Economics & Statistics Administration