Construction spending in August was at a seasonally adjusted annual rate of $1,218.3 billion, a 0.5 percent increase compared with the July rate of $1,212.3 billion and 2.5 percent higher than the August 2016 rate of $1,189.1 billion, according to the U.S. Census Bureau.
August private construction spending was at a seasonally adjusted annual rate of $954.8 billion, 0.4 percent above the July rate of $950.5 billion. Residential construction was at a rate of $520.9 billion, a 0.4 percent increase compared with the July rate of $518.6 billion. Nonresidential construction was at a rate of $433.9 billion, an increase of 0.5 percent compared with July’s rate of $432 billion.
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