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August Construction Spending Tops $1.2 Trillion

Economic

According to the recent U.S. Commerce report, construction spending increased 2.5 percent on a year-to-year basis in August to $1.21 trillion. The report also included:

  • August 2017’s construction spending was estimated at a seasonally adjusted annual rate of $1,218.3 billion, which is 0.5 percent above the revised July estimate of $1,212.3 billion.
  • August’s number is 2.5 percent above the August 2016 estimate of $1,189.1 billion.
  • During the first eight 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.
  • 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.
  • August’s 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 percentbelow the revised July estimate of $83.0 billion

For the complete US Commerce report, click here:

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