Construction spending up 0.1 percent in August
Construction spending rose 0.1 percent in August to a seasonally adjusted annual rate of $1,287.3 billion.
Construction spending in July was at a seasonally adjusted annual rate of $1,285.6 billion.
The August figure is 1.9 percent below the August 2018 estimate of $1,312.2 billion. During the first eight months of this year, construction spending amounted to $851.3 billion, 2.3 percent below the $871.3 billion for the same period in 2018.
Spending on private construction was at a seasonally adjusted annual rate of $955.0 billion, nearly the same as the revised July estimate of $954.8 billion. Residential construction was 0.9 percent above July, while nonresidential construction was 1.0 percent below the previous month.
Public construction spending was $332.3 billion, 0.4 percent above the revised July estimate of $330.8 billion. Educational construction was 1.4 percent above July, while highway construction rose 0.6 percent compared to July.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
