Construction Spending Fell 0.4% in September

Washington, DC, November 1, 2016—Construction spending during September 2016 was estimated at a seasonally adjusted annual rate of $1,150.0 billion, 0.4% below the revised August estimate of $1,154.4 billion, according to the U.S. Census Bureau of the Department of Commerce.

The September figure is 0.2% below the September 2015 estimate of $1,152.1 billion.

During the first nine months of this year, construction spending amounted to $863.2 billion, 4.4% above the $826.8 billion for the same period in 2015.

Spending on private construction was at a seasonally adjusted annual rate of $879.7 billion, 0.2% below the revised August estimate of $881.6 billion. Residential construction was at a seasonally adjusted annual rate of $453.7 billion in September, 0.5% above the revised August estimate of $451.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $426.0 billion in September, 1.0% below the revised August estimate of $430.2 billion.

In September, the estimated seasonally adjusted annual rate of public construction spending was $270.3 billion, 0.9% below the revised August estimate of $272.8 billion. Educational construction was at a seasonally adjusted annual rate of $66.6 billion, 1.1% below the revised August estimate of $67.4 billion. Highway construction was at a seasonally adjusted annual rate of $86.6 billion, 0.9% above the revised August estimate of $85.8 billion.