The US Census Bureau of the Department of Commerce announced today that construction spending during August 2015 was estimated at a seasonally adjusted annual rate of $1,086.2 billion, 0.7 percent (±1.5 percent) above the revised July estimate of $1,079.1 billion. The August figure is 13.7 percent (±2.1 percent) above the August 2014 estimate of $955.0 billion.
During the first 8 months of this year, construction spending amounted to $683.4 billion, 9.8 percent (±1.3 percent) above the $622.4 billion for the same period in 2014.
Spending on private construction was at a seasonally adjusted annual rate of $788.0 billion, 0.7 percent (±0.7 percent) above the revised July estimate of $782.3 billion. Residential construction was at a seasonally adjusted annual rate of $383.3 billion in August, 1.3 percent (±1.3 percent) above the revised July estimate of $378.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $404.7 billion in August, 0.2 percent (±0.7 percent) above the revised July estimate of $403.8 billion.
In August, the estimated seasonally adjusted annual rate of public construction spending was $298.2 billion, 0.5 percent (±2.6 percent) above the revised July estimate of $296.8 billion. Educational construction was at a seasonally adjusted annual rate of $67.4 billion, 0.2 percent (±4.1 percent) below the revised July estimate of $67.5 billion. Highway construction was at a seasonally adjusted annual rate of $90.4 billion, 0.4 percent (±6.4 percent) below the revised July estimate of $90.7 billion.