Construction spending declined in July

WASHINGTON, Sept. 2 (UPI) -- Spending on private and public construction in the United States fell in July, the U.S. Commerce Department said Tuesday.

Construction fell to a seasonally adjusted annual rate of $1.084 trillion, a drop of 0.6 percent from June's revised estimate of $1.091 trillion, the report said.

Private construction, at a seasonally adjusted annual rate of $774.6 billion fell 1.4 percent below June's revised figure of $785.9 billion, the report said.

Residential private construction fell 2.3 percent in July with seasonally adjusted annual spending at $357.8 billion.

Non-residential private spending on construction projects fell 0.7 percent on the month to an adjusted annual rate of $416.8 billion.

Public construction rose in July, up 1.4 percent to $309.7 billion.

Educational construction rose 2.5 percent to $87.4 billion, while highway construction outlays held steady on the month at $76 billion, the government said.