US construction spending for July -0.3% versus -0.1% expected

• Prior month -0.3%

Total Construction: Down for the month. Still higher on the year.

• Seasonally adjusted annual rate: $2,162.7 billion (-0.3% below June estimate)

• +6.7% above July 2023 estimate

• Year-to-date (first 7 months): $1,237.5 billion (+8.8% above same period in 2023)

Private Construction: Lower on the month and the year

• Seasonally adjusted annual rate: $1,678.7 billion (-0.4% below June estimate)

• Residential Construction:

• Seasonally adjusted annual rate: $941.6 billion (-0.4% below June estimate)

• Nonresidential Construction:

• Seasonally adjusted annual rate: $737.2 billion (-0.4% below June estimate)

Public Construction:

• Seasonally adjusted annual rate: $484.0 billion (+0.1% above June estimate)

• Educational Construction:

• Seasonally adjusted annual rate: $100.8 billion (-0.9% below June estimate)

• Highway Construction:

• Seasonally adjusted annual rate: $140.9 billion (-0.8% below June estimate)

This article was written by Greg Michalowski at www.forexlive.com.