Construction Spending Falls in September

Construction spending was at a seasonally adjusted annual rate of $1,573.6 billion in September, 0.5% below the revised August estimate of $1,582.0 billion. September’s figure is 7.8% above the September 2020 estimate of $1,459.3 billion.

Spending on private construction was at a seasonally adjusted annual rate of $1,229.9 billion, 0.5% below the revised August estimate of $1,236.1 billion. Private residential construction was at a seasonally adjusted annual rate of $773.5 billion in September, 0.4% below the revised August estimate of $776.8 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $456.4 billion in September, 0.6% below the revised August estimate of $459.3 billion.

In August, the estimated seasonally adjusted annual rate of public construction spending was $343.7 billion, 0.7% above the revised August estimate of $345.9 billion.

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