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.

 

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.