Residential construction spending advances 0.9 percent in August
Total construction spending for month runs even with July.
The U.S. Census Bureau announced the following value put in place construction
statistics for August 2019:
Total Construction
Construction spending during August 2019 was estimated at a seasonally adjusted annual rate of $1,287.3 billion, 0.1 percent (±1.2 percent)* above the revised July estimate of $1,285.6 billion. The August figure is 1.9 percent (±1.8 percent) below the August 2018 estimate of $1,312.2 billion.
During the first eight months of this year, construction spending amounted to $851.3 billion, 2.3 percent (±1.2 percent) below the $871.3 billion for the same period in 2018.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $955.0 billion, nearly the same as (±0.8 percent)* the revised July estimate of $954.8 billion.
Residential construction was at a seasonally adjusted annual rate of $507.2 billion in August, 0.9 percent (±1.3 percent)* above the revised July estimate of $502.5 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $447.9 billion in August, 1.0 percent (±0.8 percent) below the revised July estimate of $452.3 billion.
Public Construction
In August, the estimated seasonally adjusted annual rate of public construction spending was $332.3 billion, 0.4 percent (±2.0 percent)* above the revised July estimate of $330.8 billion.
Educational construction was at a seasonally adjusted annual rate of $77.0 billion, 1.4 percent (±2.6 percent)* above the revised July estimate of $75.9 billion.
Highway construction was at a seasonally adjusted annual rate of $98.9 billion, 0.6 percent (±4.8 percent)* above the revised July estimate of $98.3 billion.
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