Total construction spending inched upward to a total of $1,318.5 billion in August, a 0.1 percent increase compared with July’s $1,317.4 billion in spending, according to the U.S. Census Bureau.
Construction spending is up 6.5 percent overall compared with August 2017.
Residential construction spending dipped 0.7 percent during August but remained 4.1 percent above August 2017 spending; nonresidential construction grew 0.7 percent and rose 8.4 percent above August 2017.
Total private construction spending fell 0.5 percent during August but is up 4.4 percent year-over-year. Public construction saw a 2 percent jump during the month and remains 14 percent higher than August 2017.
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