Construction Spending Rose 0.3% in September

Washington, DC, November 1, 2017-Construction spending during September 2017 was estimated at a seasonally adjusted annual rate of $1,219.5 billion, 0.3% above the revised August estimate of $1,216.0 billion, according to the U.S. Census Bureau.

The September figure is 2.0% above the September 2016 estimate of $1,195.6 billion. During the first 9 months of this year, construction spending amounted to $917.0 billion, 4.3% above the $879.6 billion for the same period in 2016.

Spending on private construction was at a seasonally adjusted annual rate of $942.7 billion, 0.4% below the revised August estimate of $946.2 billion. Residential construction was at a seasonally adjusted annual rate of $515.4 billion in September, nearly the same as the revised August estimate of $515.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $427.3 billion in September, 0.8% below the revised August estimate of $430.6 billion.

In September, the estimated seasonally adjusted annual rate of public construction spending was $276.8 billion, 2.6% above the revised August estimate of $269.8 billion. Educational construction was at a seasonally adjusted annual rate of $71.9 billion, 5.2% above the revised August estimate of $68.3 billion. Highway construction was at a seasonally adjusted annual rate of $84.3 billion, 1.1% above the revised August estimate of $83.4 billion.