The
US Census Bureau of the Department of Commerce announced today that
construction spending during August 2016 was estimated at a seasonally adjusted annual rate of $1,142.2 billion, 0.7 percent (±1.5 percent) below the revised July estimate of $1,150.6 billion. The August figure is 0.3 percent (±1.8 percent) below the August 2015 estimate of $1,145.2 billion.
During the first 8 months of this year,
construction spending amounted to $755.0 billion, 4.9 percent (±1.2 percent) above the $720.0 billion for the same period in 2015.
Spending on private
construction was at a seasonally adjusted annual rate of $871.6 billion, 0.3 percent (±1.2 percent) below the revised July estimate of $874.6 billion. Residential
construction was at a seasonally adjusted annual rate of $449.2 billion in August, 0.3 percent (±1.3 percent) below the revised July estimate of $450.4 billion. Nonresidential
construction was at a seasonally adjusted annual rate of $422.4 billion in August, 0.4 percent (±1.2 percent) below the revised July estimate of $424.2 billion.
In August, the estimated seasonally adjusted annual rate of public
construction spending was $270.5 billion, 2.0 percent (±2.5 percent) below the revised July estimate of $276.0 billion. Educational
construction was at a seasonally adjusted annual rate of $66.9 billion, 0.4 percent (±3.9 percent) below the revised July estimate of $67.2 billion. Highway
construction was at a seasonally adjusted annual rate of $84.6 billion, 2.9 percent (±5.9 percent) below the revised July estimate of $87.2 billion.