August construction spending edges up
Construction spending during August was estimated at a seasonally adjusted annual rate of $1,318.5 billion, 0.1 percent above the revised July estimate of $1,317.4 billion.
The August figure is 6.5 percent above the August 2017 estimate of $1,237.5 billion. During the first eight months of this year, construction spending amounted to $862.0 billion, 5.3 percent above the $818.7 billion for the same period in 2017.
Spending on private construction was 0.5 percent below July. Residential construction was at a seasonally adjusted annual rate of $548.9 billion in August, 0.7 percent below the revised July estimate of $553.0 billion. Nonresidential construction was at a seasonally adjusted annual rate of $452.9 billion in August, 0.2 percent below the revised July estimate of $453.9 billion.
In August, the estimated seasonally adjusted annual rate of public construction spending was 2.0 percent above July. Educational construction was at a seasonally adjusted annual rate of $72.3 billion, 1.0 percent above the previous month. Highway construction was at a seasonally adjusted annual rate of $99.0 billion, 1.7 percent higher than 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.
