Construction Spending Rate Rose 0.1 percent in August

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.

About Jack McCabe

Jack McCabe is a research associate in the Economic Policy and Research group at the ABA.
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