Research >> Economics
Construction Spending increased 0.1% in August
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Total Construction
Construction spending during August 2018 was estimated at a seasonally adjusted annual rate of $1,318.5 billion, 0.1 percent (±1.6 percent)* above the revised July estimate of $1,317.4 billion. The August figure is 6.5 percent (±2.0 percent) above the August 2017 estimate of $1,237.5 billion. During the first eight months of this year, construction spending amounted to $862.0 billion, 5.3 percent (±1.3 percent) above the $818.7 billion for the same period in 2017.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,001.7 billion, 0.5 percent (±1.0 percent)* below the revised July estimate of $1,006.9 billion. Residential construction was at a seasonally adjusted annual rate of $548.9 billion in August, 0.7 percent (±1.3 percent)* below the revised July estimate of $553.0 billion. Nonresidential construction was at a seasonally adjusted annual rate of $452.9 billion in August, 0.2 percent (±1.0 percent)* below the revised July estimate of $453.9 billion.
Public Construction
In August, the estimated seasonally adjusted annual rate of public construction spending was $316.7 billion, 2.0 percent (±2.8 percent)* above the revised July estimate of $310.5 billion. Educational construction was at a seasonally adjusted annual rate of $72.3 billion, 1.0 percent (±4.4 percent)* above the revised July estimate of $71.7 billion. Highway construction was at a seasonally adjusted annual rate of $99.0 billion, 1.7 percent (±6.9 percent)* above the revised July estimate of $97.3 billion.
Posted: October 1, 2018 Monday 10:00 AM