September Construction Spending Down 0.5% from August, Up 7.8% YOY

Washington, DC, November 1, 2021-Construction spending during September 2021 was estimated at a seasonally adjusted annual rate of $1,573.6 billion, 0.5% below the revised August estimate of $1,582.0 billion, according to the U.S. Census Bureau.

The September figure is 7.8% above the September 2020 estimate of $1,459.3 billion. During the first nine months of this year, construction spending amounted to $1,177.5 billion, 7.1% above the $1,099.8 billion for the same period in 2020.

Spending on private construction was at a seasonally adjusted annual rate of $1,229.9 billion, 0.5% below the revised August estimate of $1,236.1 billion. Residential construction was at a seasonally adjusted annual rate of $773.5 billion in September, 0.4% below the revised August estimate of $776.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $456.4 billion in September, 0.6% below the revised August estimate of $459.3 billion.

In September, the estimated seasonally adjusted annual rate of public construction spending was $343.7 billion, 0.7% below the revised August estimate of $345.9 billion. Educational construction was at a seasonally adjusted annual rate of $80.7 billion, 0.9% above the revised August estimate of $80.0 billion. Highway construction was at a seasonally adjusted annual rate of $99.8 billion, 0.7% below the revised August estimate of $100.5 billion.