Construction spending increased 1.3 percent at a seasonally adjusted annual rate (SAAR) of $1,287.3 billion in August, according to the Census Bureau. August’s figure is 1.9 percent lower than the August 2018 estimate of $1,312.2 billion.
Total private construction was $955.0 billion SAAR, about the same as the revised July estimate of $954.8 billion. This represents a 4.0 percent decline from August 2018.
Private residential construction was $507.2 billion SAAR, 0.9 percent higher than July’s rate of $502.5 billion. This represents a 5.0 percent decline from August 2018.
Private nonresidential construction was $447.9 billion SAAR, 1.0 percent below July’s estimate of $452.3 billion. This represents a 2.8 percent decrease from August 2018.
Public construction increased 0.4 percent to $332.3 billion SAAR. This represents a 4.6 percent gain from August 2018.
Read the Census release.
