Construction spending was at a seasonally adjusted annual rate of $1,781.3 billion in August, 0.7% below the revised July estimate of $1,793.5 billion. The August figure is 8.5% above the August 2021 estimate of $1,641.6 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,426.0 billion, 0.6% below the revised August estimate of $1,435.2 billion. Private residential construction was at a seasonally adjusted annual rate of $912.9 billion in August, 0.9% below the revised July estimate of $921.6 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $513.1 billion in August, 0.1% below the revised July estimate of $513.6 billion.
In August, the estimated seasonally adjusted annual rate of public construction spending was $355.3 billion, 0.8% below the revised July estimate of $358.3 billion.
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