August construction spending was estimated at a seasonally adjusted annual rate of $ $1,086.2 billion, 0.7 percent above the revised July estimate of $1,079.1 billion, according to the U.S. Census Bureau of the Department of Commerce. The August figure is 13.7 percent above the August 2014 estimate of $955 billion.
During the first 8 months of this year, construction spending amounted to $683.4 billion, 9.8 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 billion, 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 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 above the revised July estimate of $403.8 billion.
In August, the estimated seasonally adjusted annual rate of public construction spending $298.2 billion, 0.5 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 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 below the revised July estimate of $90.7 billion.
