Construction spending rises 0.6 percent in July to $900.8 billion
U.S. construction spending rose 0.6 percent in July to its highest mark since June 2009, according to a report from our sister site, Equipment World.
The figures come from preliminary data from the Commerce Department, which show that total construction spending reached $900.8 billion in July — a 5.2-percent gain over July 2012.
Residential spending increased 0.5 percent to $340.6 billion, while nonresidential increased 0.6 percent to $560.2 billion.
Private residential construction spending was up 0.6 percent to $334.5 billion, and private nonresidential rose 1.3 percent to $296.8 billion.
Government spending fell 0.3 percent in July, while public housing dropped 3.1 percent to $6 billion and nonresidential decreased 0.2 percent to $623.3 billion.