During the first seven months of this year, construction spending amounted to $680.4 billion, eight percent above the $630.2 billion for the same period in 2005.

Spending on private construction was at a seasonally adjusted annual rate of $930.9 billion, 1.3 percent below the revised June estimate of $943.2 billion. Residential construction was at a seasonally adjusted annual rate of $627.4 billion in July, two percent below the revised June estimate of $640.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $303.5 billion in July, 0.3 percent above the revised June estimate of $302.7 billion.

?EUR??,,????'??Among major subcategories of private construction spending, the areas of greatest strength included lodging, up 46 percent year-to-date; multi-retail?EUR??,,????'??+general merchandise stores such as ?EUR??,,????'??big-box?EUR??,,????'??? and discount retailers, shopping centers and malls?EUR??,,????'??+up 38 percent; hospitals, 27 percent; manufacturing, 24 percent; multi-family residential, 20 percent; and warehouses, other than mini-storage, 17 percent,?EUR??,,????'?? Ken Simonson, chief economist for the Associated General Contractors of America. ?EUR??,,????'??Office construction gained momentum, jumping five percent for the month and 12 percent year-to-date, and electric power construction is reviving, with an eight percent year-to-date rise.?EUR??,,????'??

In July, the estimated seasonally adjusted annual rate of public construction spending was $269.1 billion, 0.7 percent below the revised June estimate of $271.1 billion. Educational construction was at a seasonally adjusted annual rate of $69.9 billion, one percent above the revised June estimate of $69.2 billion. Highway construction was at a seasonally adjusted annual rate of $76.6 billion, 0.6 percent below the revised June estimate of $77 billion.