The 2020 Mid-Year Economic Update_long

September Construction Spending Up 14.1% Year-Over-Year

Construction spending was up 0.6 percent from August.

September construction spending was estimated at a seasonally adjusted annual rate of $ $1,094.2 billion, 0.6 percent above the revised August estimate of $1,087.5 billion, according to the U.S. Census Bureau of the Department of Commerce. The September figure is 14.1 percent above the September 2014 estimate of $959.2 billion.

During the first 9 months of this year, construction spending amounted to $786.6 billion, 10.5 percent above the $711.8 billion for the same period in 2014.

Spending on private construction was at a seasonally adjusted annual rate of $794.2 billion, 0.6 percent above the revised August estimate of $789.7 billion. Residential construction was at a seasonally adjusted annual rate of $394.7 billion in September, 1.9 percent above the revised August estimate of $387.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $399.5 billion in September, 0.7 percent below the revised August estimate of $402.2 billion.

In September, the estimated seasonally adjusted annual rate of public construction spending was $300 billion, 0.7 percent above the revised August estimate of $297.8 billion. Educational construction was at a seasonally adjusted annual rate of $69.1 billion, 2.4 percent above the revised August estimate of $67.5 billion. Highway construction was at a seasonally adjusted annual rate of $91.2 billion, 0.3 percent above the revised August estimate of $90.9 billion.

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