U.S. construction spending slips 0.4 percent in September
Residential and highways are only bright spots.
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.
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