September Construction Spending Rose 0.3%

Washington, DC, November 2, 2020-Construction spending during September 2020 was estimated at a seasonally adjusted annual rate of $1,414.0 billion, 0.3% above the revised August estimate of $1,410.4 billion, according to the U.S. Census Bureau. The September figure is 1.5% above the September 2019 estimate of $1,393.3 billion. During the first nine months of this year, construction spending amounted to $1,058.5 billion, 4.1% above the $1,016.7 billion for the same period in 2019.

Spending on private construction was at a seasonally adjusted annual rate of $1,074.9 billion, 0.9% above the revised August estimate of $1,065.6 billion. Residential construction was at a seasonally adjusted annual rate of $610.9 billion in September, 2.8% above the revised August estimate of $594.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $464.1 billion in September, 1.5% below the revised August estimate of $471.3 billion.

In September, the estimated seasonally adjusted annual rate of public construction spending was $339.1 billion, 1.7% below the revised August estimate of $344.8 billion. Educational construction was at a seasonally adjusted annual rate of $85.3 billion, 2.0% above the revised August estimate of $83.7 billion. Highway construction was at a seasonally adjusted annual rate of $89.3 billion, 5.4% below the revised August estimate of $94.5 billion.