The U.S. Department of Commerce is reporting that construction spending during August, 2016 was estimated at a seasonally adjusted annual rate of $1.142 trillion, which is 0.7% below July’s estimate of $1.15 trillion and 0.3% lower than one year ago. Total construction spending through August was $755.0 billion, which is 4.9% higher than in August, 2015. Breaking this down a little, private residential construction was at a seasonally adjusted annual rate of $449.2 billion in August, 0.3% below July’s revised estimate of $450.4 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $422.4 billion in August, 0.4 % below July’s revised estimate of $424.2 billion.
Click here to read the full report on census.gov.
