Residential construction was at a seasonally adjusted annual rate of $273.5 billion in August, 0.9 percent above the revised July estimate of $271.1 billion, according to the latest figures from the U.S. Department of Commerce released on Monday.
Residential construction was at a seasonally adjusted annual rate of $273.5 billion in August, 0.9 percent above the revised July estimate of $271.1 billion, according to the latest figures from the U.S. Department of Commerce released on Monday.
Still, spending on other types of public and non-residential construction fell in August, resulting in the rate of overall construction spending to fall 0.6 percent from the revised July estimate of $842.0 billion to a seasonally adjusted annual rate of $837.1 billion. The latest August figure was the largest drop in overall construction spending in a year.