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August Construction Spending Rises to $1.21 Trillion

Federal government construction spending fell 4.7 percent, lowest since April 2007

October 02, 2017
The U.S. Commerce reported today that construction spending increased 2.5 percent on a year-to-year basis in August to $1.21 trillion

The U.S. Commerce reported today that construction spending increased 2.5 percent on a year-to-year basis in August to $1.21 trillion. Here is a summary of the August figures:

Total Construction

Construction spending during August 2017 was estimated at a seasonally adjusted annual rate of $1,218.3 billion, 0.5 percent above the revised July estimate of $1,212.3 billion.

The August figure is 2.5 percent above the August 2016 estimate of $1,189.1 billion.

During the first 8 months of this year, construction spending amounted to $806.2 billion, 4.7 percent  above the $769.9 billion for the same period in 2016.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $954.8 billion, 0.4 percent above the revised July estimate of $950.5 billion.

  • Residential construction was at a seasonally adjusted annual rate of $520.9 billion in August, 0.4 percent above the revised July estimate of $518.6 billion.
  • Nonresidential construction was at a seasonally adjusted annual rate of $433.9 billion in August, 0.5 percent above the revised July estimate of $432.0 billion.

Private Construction Leaders:

  • New single family Up 11.6
  • Commercial Up 10.4
  • Transportation Up 17.6

Public Construction

In August, the estimated seasonally adjusted annual rate of public construction spending was $263.5 billion, 0.7 percent above the revised July estimate of $261.7 billion.

Educational construction was at a seasonally adjusted annual rate of $67.3 billion, 3.5 percent above the revised July estimate of $65.0 billion.

Highway construction was at a seasonally adjusted annual rate of $81.9 billion, 1.3 percent below the revised July estimate of $83.0 billion

Public Construction Leaders:

  • Health care Up 8.9
  • Public safety Up 9.3

For the complete US Commerce report, click here:

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