The US Census Bureau announced today that construction spending during September 2018 was estimated at a seasonally adjusted annual rate of $1,329.5 billion, nearly the same as (±1.5 percent) the revised August estimate of $1,328.8 billion. The September figure is 7.2 percent (±1.8 percent) above the September 2017 estimate of $1,240.4 billion.
During the first nine months of this year, construction spending amounted to $982.9 billion, 5.5 percent (±1.2 percent) above the $931.3 billion for the same period in 2017.
Spending on private construction was at a seasonally adjusted annual rate of $1,020.4 billion, 0.3 percent (±1.0 percent) above the revised August estimate of $1,016.9 billion. Residential construction was at a seasonally adjusted annual rate of $556.4 billion in September, 0.6 percent (±1.3 percent) above the revised August estimate of $553.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $463.9 billion in September, 0.1 percent (±1.0 percent) above the revised August estimate of $463.5 billion.
In September, the estimated seasonally adjusted annual rate of public construction spending was $309.1 billion, 0.9 percent (±2.6 percent) below the revised August estimate of $312.0 billion. Educational construction was at a seasonally adjusted annual rate of $74.6 billion, 1.2 percent (±3.1 percent) above the revised August estimate of $73.7 billion. Highway construction was at a seasonally adjusted annual rate of $95.2 billion, 1.1 percent (±6.9 percent) below the revised August estimate of $96.2 billion.