Total Construction Spending in the United States as of July 2023

Construction spending in various sectors experienced notable changes over the past year. Particularly noteworthy is the substantial increase in total construction spending within the manufacturing sector in the United States, which surged by an impressive 70% compared to the previous year. This substantial growth stands out as one of the most significant increases observed. In contrast, the residential sector faced a different trend, as total construction spending witnessed a decrease of 5.4% from the preceding year. This decline underscores the challenges faced by the residential construction segment during this period.