Residential keeps U.S. construction in the black in September
Residential activity grows 2.8 percent for month.
The U.S. Census Bureau announced the following value put in place construction
statistics for September 2020:
Total Construction
Construction spending during September 2020 was estimated at a seasonally adjusted annual rate of $1,414.0 billion, 0.3 percent (±1.0 percent)* above the revised August estimate of $1,410.4 billion. The September figure is 1.5 percent (±1.3 percent) above the September 2019 estimate of $1,393.3 billion.
During the first nine months of this year, construction spending amounted to $1,058.5 billion, 4.1 percent (±1.0 percent) above the $1,016.7 billion for the same period in 2019.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,074.9 billion, 0.9 percent (±0.7 percent) above the revised August estimate of $1,065.6 billion.
Residential construction was at a seasonally adjusted annual rate of $610.9 billion in September, 2.8 percent (±1.3 percent) above the revised August estimate of $594.3 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $464.1 billion in September, 1.5 percent (±0.7 percent) below the revised August estimate of $471.3
billion.
Public Construction
In September, the estimated seasonally adjusted annual rate of public construction spending was $339.1 billion, 1.7 percent (±1.5 percent) below the revised August estimate of $344.8 billion.
Educational construction was at a seasonally adjusted annual rate of $85.3 billion, 2.0 percent (±1.8 percent) above the revised August estimate of $83.7 billion.
Highway construction was at a seasonally adjusted annual rate of $89.3 billion, 5.4 percent (±4.1 percent) below the revised August estimate of $94.5 billion.
CONTRACTOR SUPPLY MAGAZINE
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