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.