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11-12-20 | Economic News

Total Construction Spending Up

Public Construction Down

Commercial construction spending is down month-to-month by 1.9 percent while educational construction is up 1.5 percent.

Construction spending for the month of September has been released by the U.S. Census Bureau and was estimated to be 0.3 percent above the revised August rate at a seasonally adjusted annual rate of $1,414 billion. This is 1.5 percent above last year's rate of $1,393.3 billion for the same month.

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Included in the September figure is private construction which was 0.9 percent above the revised August estimate. Residential construction increased 2.8 percent month-to-month at a rate of $610.9 billion while nonresidential construction dipped 1.5 percent at a rate of $464.1 billion. Public construction spending was also down at a seasonally adjusted annual rate of $339.1 billion, 1.7 percent below August's revised estimate.

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