The 2020 Mid-Year Economic Update_long

September Construction Spending Down 0.2% Year-Over-Year

Construction spending down 0.4 percent from August.

September construction spending was estimated at a seasonally adjusted annual rate of $1,150 billion, down 0.4 percent compared to the revised August estimate of $1,154.4 billion, according to the U.S. Census Bureau of the Department of Commerce. The September figure is 0.2 percent below the September 2015 estimate of $1,152.1 billion.

During the first nine months of this year, construction spending amounted to $863.2 billion, 4.4 percent above $826.8 billion for the same period in 2015.

Spending on private construction was at a seasonally adjusted annual rate of $879.7 billion, 0.2 percent below the revised August estimate of $881.6 billion. Residential construction was at a seasonally adjusted annual rate of $453.7 billion in September, 0.5 percent above the revised August estimate of $451.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $426 billion in September, 1 percent below the revised August estimate of $430.2 billion.

In September, the estimated seasonally adjusted annual rate of public construction spending was $270.3 billion, 0.9 percent below the revised August estimate of $272.8 billion. Educational construction was at a seasonally adjusted annual rate of $66.6 billion, 1.1 percent below the revised August estimate of $67.4 billion. Highway construction was at a seasonally adjusted annual rate of $86.6 billion, 0.9 percent above the revised August estimate of $85.8 billion.

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