The US Census Bureau announced that construction spending during August 2021 was estimated at a seasonally adjusted annual rate of $1,584.1 billion, virtually unchanged from (±1.0 percent) the revised July estimate of $1,584.0 billion. The August figure is 8.9 percent (±1.5 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 (±1.0 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 (±0.5 percent) below the revised July estimate of $1,243.7 billion. Residential construction was at a seasonally adjusted annual rate of $786.6 billion in August, 0.4 percent (±1.3 percent) above the revised July estimate of $783.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $455.6 billion in August, 1.0 percent (±0.5 percent) below the revised July estimate of $460.2 billion.
In August, the estimated seasonally adjusted annual rate of public construction spending was $341.9 billion, 0.5 percent (±1.6 percent) above the revised July estimate of $340.3 billion. Educational construction was at a seasonally adjusted annual rate of $79.8 billion, 1.1 percent (±2.0 percent) above the revised July estimate of $78.9 billion. Highway construction was at a seasonally adjusted annual rate of $98.3 billion, 1.6 percent (±4.4 percent) above the revised July estimate of $96.8 billion.