Construction Spending Rate Unchanged in September

Construction spending was virtually unchanged at a seasonally adjusted annual rate (SAAR) of $1,329.5 billion, in September, according to the Census Bureau. August’s spending estimate was upwardly revised to $1,328.8 billion. September’s figure is 7.2 percent greater than the September 2017 estimate of $1,240.4 billion.

Total private construction was $1,020.4 billion SAAR, a 0.3 percent increase from the revised August estimate of $1,016.9 billion. Total private construction is 6.1 percent higher than the September 2017 figure.

Private residential construction was $556.4 billion SAAR, 0.6 percent above than August’s rate. September’s figure was 5.1 percent greater than its September 2017 estimate.

Private nonresidential construction was $463.9 billion SAAR, 0.1 percent above August’s estimate. September’s rate is 7.2 percent greater than the September 2017 figure.

Public construction fell 0.9 percent at $309.1 billion SAAR. September’s figure is 11.0 percent above the September 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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