US construction spending for July -0.4% vs. -0.4% estimate

• Prior month -1.1% revised higher to -0.5%
• Construction spending -0.4% vs. -0.4% estimate
• During the first seven months of this year, construction spending amounted to $1,013.7 billion, 10.8 percent (±1.0 percent) above the $915.2 billion for the same period in 2021.
• Spending on private construction was at a seasonally adjusted annual rate of $1,424.2 billion, 0.8 percent (±0.7 percent) below the revised June estimate of $1,436.4 billion.
• Residential construction was at a seasonally adjusted annual rate of $920.4 billion in July, 1.5 percent (±1.3 percent) below the revised June estimate of $934.4 billion.
• Nonresidential construction was at a seasonally adjusted annual rate of $503.9 billion in July, 0.4 percent (±0.7 percent)* above the revised June estimate of $502.1 billion.
• In July, the estimated seasonally adjusted annual rate of public construction spending was $353.1 billion, 1.5 percent (±1.5 percent)* above the revised June estimate of $347.9 billion.
• Educational construction was at a seasonally adjusted annual rate of $77.2 billion, 0.1 percent (±2.1 percent)* below the revised June estimate of $77.3 billion.
• Highway construction was at a seasonally adjusted annual rate of $102.7 billion, 4.3 percent (±4.1 percent) above the revised June estimate of $98.4 billion.

Back-to-back losses in construction spending but there was a revision higher in the prior month which lessens the blow.

/Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term