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Construction Spending Remains Flat in August

Tue, October 01, 2019 3:56 PM | Anonymous member (Administrator)

Total Construction spending during August 2019 was estimated at a seasonally adjusted annual rate of $1,287.3 billion, 0.1 percent above the revised July estimate of $1,285.6 billion. The August figure is 1.9 percent below the August 2018 estimate of $1,312.2 billion. In August, nonresidential private sector spending slipped one percent (or down $4.2 billion) accounting for nearly all the negative news. During the first eight months of this year, construction spending amounted to $851.3 billion, 2.3 percent below the $871.3 billion for the same period in 2018. 

PRIVATE CONSTRUCTION:
Private Construction Spending on private construction was at a seasonally adjusted annual rate of $955.0 billion, nearly the same as 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 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 below the revised July estimate of $452.3 billion.

PUBLIC CONSTRUCTION:
Public Construction In August, the estimated seasonally adjusted annual rate of public construction spending was $332.3 billion, 0.4 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 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 above the revised July estimate of $98.3 billion.

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