Construction spending rose 0.3% at a seasonally adjusted annual rate (SAAR) of $1,414 billion in September, according to the Census Bureau. September’s figure is 1.5% above the September 2019 estimate of $1,393.3 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,074.9 billion, 0.9% above the revised August estimate of $1,065.6 billion. Private residential construction was at a seasonally adjusted annual rate of $610.9 billion, 2.8% above the revised August estimate of $594.3 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $464.1 billion, 1.5 % below the revised August estimate of $ 471.3 billion.
In September, the estimated seasonally adjusted annual rate of public construction spending was $ 339.1 billion, 1.7% below the revised August estimate of $344.8 billion.
Read the Census release.
