September U.S. Construction Spending Up 2% Year-Over-Year

Total U.S. construction spending in September ticked up 0.3 percent from August and was up a healthy 2 percent year-over-year.

Id 30886 Construction
Id 33199 Construction

The U.S. Census Bureau announced the following value put in place construction statistics for October 2017:

Total Construction
Construction spending during September 2017 was estimated at a seasonally adjusted annual rate of $1,219.5 billion, 0.3 percent (±1.3 percent) above the revised August estimate of $1,216.0 billion. The September figure is 2.0 percent (±1.6 percent) 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 percent (±1.2 percent) above the $879.6 billion for the same period in 2016.

Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $942.7 billion, 0.4 percent (±1.0 percent) 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 (±1.3 percent) 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 percent (± 1.0 percent) below the revised August estimate of $430.6 billion.

Public Construction
In September, the estimated seasonally adjusted annual rate of public construction spending was $276.8 billion, 2.6 percent (±2.3 percent) above the revised August estimate of $269.8 billion. Educational construction was at a seasonally adjusted annual rate of $71.9 billion, 5.2 percent (±2.8 percent) above the revised August estimate of $68.3 billion. Highway construction was at a seasonally adjusted annual rate of $84.3 billion, 1.1 percent (±5.6 percent) above the revised August estimate of $83.4 billion.

Id 33200 Fasgdas
More in Economy