The 2020 Mid-Year Economic Update_long

September Construction Spending Up 2.9% Year-Over-Year

Construction spending was down 0.4 percent from August.

September 2014 construction spending was estimated at a seasonally adjusted annual rate of $950.9 billion, 0.4 percent below the revised August estimate of $955.2 billion, according to the U.S. Census Bureau of the Department of Commerce. The September figure is 2.9 percent above the September 2013 estimate of $924.2 billion.

During the first nine months of this year, construction spending amounted to $6710.1 billion, 6.1 percent above the same period in 2013.

Spending on private construction was at a seasonally adjusted annual rate of $680 billion, 0.1 percent below the revised August estimate of $680.8 billion. Residential construction was at a seasonally adjusted annual rate of $349.1 billion in September, 0.4 percent above the revised August estimate of $347.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $331 billion in September, 0.6 percent below the revised August estimate of $333 billion.

In September, the estimated seasonally adjusted annual rate of public construction spending was $270.9 billion, 1.3 percent below the revised August estimate of $274.4 billion. Educational construction was at a seasonally adjusted annual rate of $62.8 billion, 0.1 percent above the revised August estimate of $62.8 billion. Highway construction was at a seasonally adjusted annual rate of $79.9 billion, 3.7 percent below the revised August estimate of $82.9 billion.

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