Construction Spending Flat at $1.6B in August

October 01, 2021 from Floor Focus Floor Daily

Washington, DC, October 1, 2021-Construction spending during August 2021 was estimated at a seasonally adjusted annual rate of $1,584.1 billion, virtually unchanged from the revised July estimate of $1,584.0 billion, according to the U.S. Census Bureau.

The August figure is 8.9% 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% 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% 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% 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% 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% above the revised July estimate of $340.3 billion. Educational construction was at a seasonally adjusted annual rate of $79.8 billion, 1.1% above the revised July estimate of $78.9 billion. Highway construction was at a seasonally adjusted annual rate of $98.3 billion, 1.6% above the revised July estimate of $96.8 billion.

Related Topics: U.S. Census Bureau