Construction spending rose 1.4% at a seasonally adjusted annual rate (SAAR) of $1,412.8 billion in August, according to the Census Bureau. August’s figure is 2.5% above the August 2019 estimate of $1,379.0 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,061.4 billion, 1.9% above the revised July estimate of $1,041.7 billion. Private residential construction was at a seasonally adjusted annual rate of $589.4 billion, 3.7% above the revised July estimate of $568.3 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $472 billion, 0.3% below the revised July estimate of $473.4 billion.
In August, the estimated seasonally adjusted annual rate of public construction spending was $351.4 billion, 0.1% above the revised July estimate of $350.9 billion.
Read the Census release.
