Construction Spending Rose in August

Washington, DC, October 1, 2015—Construction spending during August 2015 was estimated at $1,086.2 billion, 0.7% above the revised July estimate of $1,079.1 billion, according to the U.S. Census Bureau of the Department of Commerce.

The August figure is 13.7% above the August 2014 estimate of $955.0 billion.

During the first eight months of this year, construction spending amounted to $683.4 billion, 9.8% above the $622.4 billion for the same period in 2014.

Spending on private construction was at a seasonally adjusted annual rate of $788.0 billion, 0.7% above the revised July estimate of $782.3 billion. Residential construction was at a seasonally adjusted annual rate of $383.3 billion in August, 1.3% above the revised July estimate of $378.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $404.7 billion in August, 0.2% above the revised July estimate of $403.8 billion.

In August, the estimated seasonally adjusted annual rate of public construction spending was $298.2 billion, 0.5% above the revised July estimate of $296.8 billion. Educational construction was at a seasonally adjusted annual rate of $67.4 billion, 0.2% below the revised July estimate of $67.5 billion. Highway construction was at a seasonally adjusted annual rate of $90.4 billion, 0.4% below the revised July estimate of $90.7 billion.