Non-Residential Activity Hurts Construction Spending in July

by devteam September 1st, 2009 | Share

Residential construction continued on the path to recovery, but a greater-than-anticipated cutback in non-residential activity drove the total Construction Spending report down 0.2% in July, against expectations it would be flat.

Broad advances in new and existing home sales helped residential spending see a 2.3% boost in July, but private non-residential construction fell 1.2%, marking the third straight loss.

Total construction spending has fallen 10.5% in the past 12 months to its lowest rate since February 2004, according to the Commerce Department, who publish the data. 

Declines would have been worse without the stimulus package, which helped federal building spending climb 0.8% to a record annual rate of $29.57 billion. But public spending carries the bulk of projects, and it dipped 0.7% in July â€

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

See all blogs


Leave a Comment

Leave a Reply

Latest Articles

Real Estate Investors Skip Paying Loans While Raising Billions

By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...

Late-Stage Delinquencies are Surging

Aug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...

Published by the Federal Reserve Bank of San Francisco

It was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...