Construction Spending Inched Up in September

Washington, DC, November 1, 2019-Construction spending during September 2019 was estimated at a seasonally adjusted annual rate of $1,293.6 billion, 0.5% above the revised August estimate of $1,287.1 billion, according to the U.S. Census Bureau.

The September figure is 2.0% below the September 2018 estimate of $1,319.7 billion.

During the first nine months of this year, construction spending amounted to $968.7 billion, 2.2% below the $990.2 billion for the same period in 2018.

Spending on private construction was at a seasonally adjusted annual rate of $961.7 billion, 0.2% above the revised August estimate of $959.9 billion. Residential construction was at a seasonally adjusted annual rate of $511.4 billion in September, 0.6% above the revised August estimate of $508.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $450.3 billion in September, 0.3% below the revised August estimate of $451.4 billion.

In September, the estimated seasonally adjusted annual rate of public construction spending was $331.9 billion, 1.5% above the revised August estimate of $327.2 billion. Educational construction was at a seasonally adjusted annual rate of $78.9 billion, 3.1% above the revised August estimate of $76.5 billion. Highway construction was at a seasonally adjusted annual rate of $98.0 billion, 2.6% above the revised August estimate of $95.5 billion.