Construction Spending Slipped in September

Construction spending fell 0.4% in September to a seasonally adjusted annual level (SAAL) of $1,150 billion, according to the Census Bureau. August’s spending estimate was revised up to a rate of $1,154 billion. During the first nine months of the year, construction spending amounted to $863 billion, up 4.4% from the first nine months of 2015.

Total private construction fell to $880 billion SAAL, down 0.2% from the revised August estimate of $881.6 billion.

Private residential construction was $454 billion SAAL, 0.5% above August’s rate.

Private nonresidential construction fell 1.0% to $426 billion, largely due to declines in commercial construction projects.

Public construction fell 0.9% to $270 billion SAAL, largely due to declines in educational and highway construction projects.

Read the Census release.

About Tim Nicholson

Tim Nicholson
Tim Nicholson is an economic research associate at ABA.
More from Tim Nicholson >