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Posted October 4, 2021

August construction spending 8.9 percent above last year

Construction spending during August 2021 was estimated at a seasonally adjusted annual rate of $1,584.1 billion, virtually unchanged from the revised July estimate of $1,584.0 billion.


The August figure is 8.9 percent above the August 2020 estimate of $1,455.0 billion. During the first eight months of this year, construction spending amounted to $1,034.5 billion, 7.0 percent above the $966.7 billion for the same period in 2020.

Spending on private construction was at a seasonally adjusted annual rate of $1,242.2 billion, 0.1 percent below the revised July estimate of $1,243.7 billion. Residential construction was 0.4 percent above July. Nonresidential construction 1.0 percent below July.

Public construction spending was $341.9 billion, 0.5 percent above the revised July estimate of $340.3 billion. Educational construction was 1.1 percent above July. Highway construction was 1.6 percent above the previous month.

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