September construction spending was estimated at a seasonally adjusted annual rate of $1,219.5 billion, up 0.3 percent from the revised August estimate, according to the U.S. Census Bureau of the Department of Commerce. The September figure is 2 percent above the September 2016 estimate.
During the first nine months of this year, construction spending amounted to $917 billion, 4.3 percent above the $879.6 billion for the same period in 2016.
Spending on private construction was at a seasonally adjusted annual rate of $942.7 billion, 0.4 percent below the revised August estimate of $946.2 billion. Residential construction was at a seasonally adjusted annual rate of $515.4 billion in September, nearly the same as the revised August estimate of $515.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $427.3 billion in September, 0.8 percent below the revised August estimate of $430.6 billion.
In September, the estimated seasonally adjusted annual rate of public construction spending was $276.8 billion, 2.6 percent above the revised August estimate of $269.8 billion. Educational construction was at a seasonally adjusted annual rate of $71.9 billion, 5.2 percent above the revised August estimate of $68.3 billion. Highway construction was at a seasonally adjusted annual rate of $84.3 billion, 1.1 percent above the revised August estimate of $83.4 billion.
