Posted To: MND NewsWireSpending on residential construction continued to outpace construction in general in July although new home construction appeared to falter . The U.S. Census Bureau reports that total spending on construction during the month was at a seasonally adjusted annual rate of $1.315 trillion. This is a 0.1 percent improvement over the revised June estimate of $1.314 trillion and is up 5.8 percent compared to July 2017, with the percentage gains coming from public sector projects. On a non-seasonally adjusted basis total construction spending during the month was $121,473 billion compared to $118,737 billion in June. For the year-to-date (TYD) through the end of July there have been expenditures of 740,485 billion, a 5.2 percent increase over the same period last year. Privately funding construction…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Michael Ayoub, Author NMLS ID 6631