Construction spending to date estimated 7.3% above first nine months of '23
September construction spending was estimated at a seasonally adjusted annual rate of $2,148.8 billion, 0.1% (±1.0% ) above the revised August estimate of $2,146.0 billion.
The September figure is 4.6% (±1.6% ) above the September 2023 estimate of $2,055.2 billion. During the first nine months of this year, construction spending amounted to $1,621.4 billion, 7.3% (±1.2% ) above the $1,511.4 billion for the same period in 2023.
Spending on private construction was at a seasonally adjusted annual rate of $1,653.6 billion, virtually unchanged from (±0.5% )* the revised August estimate of $1,653.2 billion. Residential construction was at a seasonally adjusted annual rate of $913.6 billion in September, 0.2% (±1.3% )* above the revised August estimate of $912.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $740.0 billion in September, 0.1% (±0.5% )* below the revised August estimate of $741.0 billion.
In September, the estimated seasonally adjusted annual rate of public construction spending was $495.2 billion, 0.5% (±1.8% ) above the revised August estimate of $492.9 billion. Educational construction was at a seasonally adjusted annual rate of $104.2 billion, 0.3% (±2.1% )* above the revised August estimate of $103.9 billion. Highway construction was at a seasonally adjusted annual rate of $141.0 billion, 0.5% (±4.4% ) above the revised August estimate of $140.3 billion.
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Kimball Midwest. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Mike Marks, as well as interviews with numerous product and distribution industry experts.
