The US Census Bureau announced that construction spending during August 2019 was estimated at a seasonally adjusted annual rate of $1,287.3 billion, 0.1 percent (±1.2 percent) above the revised July estimate of $1,285.6 billion. The August figure is 1.9 percent (±1.8 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 (±1.2 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 (±0.8 percent) the revised July estimate of $954.8 billion. Residential construction was at a seasonally adjusted annual rate of $507.2 billion in August, 0.9 percent (±1.3 percent) above the revised July estimate of $502.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $447.9 billion in August, 1.0 percent (±0.8 percent) below the revised July estimate of $452.3 billion.
In August, the estimated seasonally adjusted annual rate of public construction spending was $332.3 billion, 0.4 percent (±2.0 percent) above the revised July estimate of $330.8 billion. Educational construction was at a seasonally adjusted annual rate of $77.0 billion, 1.4 percent (±2.6 percent) above the revised July estimate of $75.9 billion. Highway construction was at a seasonally adjusted annual rate of $98.9 billion, 0.6 percent (±4.8 percent) above the revised July estimate of $98.3 billion.