Link to the report from the Census Bureau.
Overall construction spending decreased (-.4%) from June 2007 and (-2%) from July 2006.
Residential spending decreased (-1.4%) from June 2007 and (-15.6%) from July 2006.
Non-residential increased .6% from June 2007 and 13.9% from July 2006.
Non-residential construction has increased from 46% of all construction spending in July 2006 to 53% in July 2007.
The bottom line is non-residential construction continues to grow at a rate to absorb residential losses. This is good news for the construction employment sector which is an area that we should be watching for signs of weakness.
