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Construction outlays rose in July

Sept. 3, 2013 at 12:45 PM   |   Comments

WASHINGTON, Sept. 3 (UPI) -- Construction spending rose 0.6 percent June to July, the U.S. Census Bureau News reported Tuesday.

Total construction spending in June was revised to a seasonally adjusted annual rate of $895.7 billion. In July, the bureau said, spending came to $900.8 billion, which is 5.2 percent higher than construction outlays in July 2012, when spending came to $856.3 billion.

Spending on private-sector projects totaled $631.4 billion on a seasonally adjusted basis, 0.9 percent above the revised June estimate of $625.6 billion.

In July, a seasonally adjusted annual rate of $334.6 billion was spent on residential projects, a 0.6 percent climb from June's revised rate of $332.7. Private spending on commercial projects came to a seasonally adjusted annual rate of $296.8 billion in July, 1.3 percent above the revised June estimate of $293 billion.

The estimated seasonally adjusted annual rate of public construction spending in July was $269.4 billion, 0.3 percent below than the revised June estimate of $270.1 billion.

Educational construction was at a seasonally adjusted annual rate of $62.9 billion, down 1.5 percent from June's revised rate of $63.8 billion. Highway construction was at a seasonally adjusted annual rate of $78 billion, down 1.1 percent from June's revised estimate of $78.8 billion, the department said.

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