US construction spending slips in July

Construction spending in the US in July was slightly lower than June. Despite the decline, it increased notably year on year (y/y).

The US Census Bureau reported July construction spending to be an estimated $2.168 trillion on a seasonally adjusted annual rate (SAAR). While this was 0.3% below June’s revised spending rate, it was 6.7% higher than spending in July 2023.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

Latest in Market Data

Drilling activity eases in the US, moves higher in Canada

SMU Survey: Current Buyers’ Sentiment Index declines, Future Sentiment flat

SMU flat-rolled market survey results now available

Chicago Business Barometer back to growth in September

SMU Survey: Mill lead times stretch further, plate reaches record high