US construction spending for July 2020.
- US construction spending 0.1% vs. 1.0% estimate.
- Prior month -0.7% revised to -0.5%.
- Private construction spending +0.6%.
- Nonresidential construction was at a seasonally adjusted annual rate of $466.9 billion in July, 1.0 percent (±0.5 percent) below the revised June estimate of $471.6 billion
- Public construction spending -1.3%. Highway industry construction fell -3.1%. Education construction fell by -3%
Weaker than expected construction spending drag down by public construction.
