Construction spending increased 0.1 percent at a seasonally adjusted annual rate (SAAR) of $1,318.5 billion, in August, according to the Census Bureau. July’s spending estimate was upwardly revised to $1,317.4 billion. August’s figure is 6.5 percent greater than the August 2017 estimate of $1,237.5 billion.
Total private construction was $1,001.7 billion SAAR, a 0.5 percent decrease from the revised July estimate of $1,006.9 billion. Total private construction is 4.4 percent higher than the August 2017 figure.
Private residential construction was $548.9 billion SAAR, 0.7 percent lower than July’s rate. August’s figure was 4.0 percent greater than its August 2017 estimate.
Private nonresidential construction was $452.9 billion SAAR, 0.2 percent below July’s estimate. August’s rate is 4.8 percent greater than the August 2017 figure.
Public construction rose 2.0 percent at $316.7 billion SAAR. August’s figure is 14.0 percent above the August 2017 estimate.
Read the Census release.