Research >> Economics
Construction Spending decreased 0.4% in September
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The U.S. Census Bureau of the Department of Commerce announced today that construction spending during September 2016 was estimated at a seasonally adjusted annual rate of $1,150.0 billion, 0.4 percent (±1.3%) below the revised August estimate of $1,154.4 billion. The September figure is 0.2 percent (±1.8%) below the September 2015 estimate of $1,152.1 billion. During the first 9 months of this year, construction spending amounted to $863.2 billion, 4.4 percent (±1.2%) above the $826.8 billion for the same period in 2015.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $879.7 billion, 0.2 percent (±1.0%) below the revised August estimate of $881.6 billion. Residential construction was at a seasonally adjusted annual rate of $453.7 billion in September, 0.5 percent (±1.3%) above the revised August estimate of $451.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $426.0 billion in September, 1.0 percent (±1.0%) below the revised August estimate of $430.2 billion.
PUBLIC CONSTRUCTION
In September, the estimated seasonally adjusted annual rate of public construction spending was $270.3 billion, 0.9 percent (±2.5%) below the revised August estimate of $272.8 billion. Educational construction was at a seasonally adjusted annual rate of $66.6 billion, 1.1 percent (±4.1%) below the revised August estimate of $67.4 billion. Highway construction was at a seasonally adjusted annual rate of $86.6 billion, 0.9 percent (±5.4%) above the revised August estimate of $85.8 billion.
Posted: November 1, 2016 Tuesday 10:00 AM