U.S. construction spending holds level in September

The U.S. Census Bureau announced the following value put in place construction statistics for September 2018:

Total Construction

Construction spending during September 2018 was estimated at a seasonally adjusted annual rate of $1,329.5 billion, nearly the same as (±1.5 percent)* the revised August estimate of $1,328.8 billion. The September figure is 7.2 percent (±1.8 percent) above the September 2017 estimate of $1,240.4 billion.

During the first nine months of this year, construction spending amounted to $982.9 billion, 5.5 percent (±1.2 percent) above the $931.3 billion for the same period in 2017.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $1,020.4 billion, 0.3 percent (±1.0 percent)* above the revised August estimate of $1,016.9 billion.

Residential construction was at a seasonally adjusted annual rate of $556.4 billion in September, 0.6 percent (±1.3 percent)* above the revised August estimate of $553.4 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $463.9 billion in September, 0.1 percent (±1.0 percent)* above the revised August estimate of $463.5 billion.

Public Construction

In September, the estimated seasonally adjusted annual rate of public construction spending was $309.1 billion, 0.9 percent (±2.6 percent)* below the revised August estimate of $312.0 billion.

Educational construction was at a seasonally adjusted annual rate of $74.6 billion, 1.2 percent (±3.1 percent)* above the revised August estimate of $73.7 billion.

Highway construction was at a seasonally adjusted annual rate of $95.2 billion, 1.1 percent (±6.9 percent)* below the revised August estimate of $96.2 billion.