August 2014 construction spending was estimated at a seasonally adjusted annual rate of $961 billion, 0.8 percent below the revised July estimate of $968.8 billion, according to the U.S. Census Bureau of the Department of Commerce. The August figure is 5 percent above the August 2013 estimate of $915.3 billion.
During the first eight months of this year, construction spending amounted to $623.1 billion, 6.8 percent above the same period in 2013.
Spending on private construction was at a seasonally adjusted annual rate of $685 billion, 0.8 percent below the revised July estimate of $690.3 billion. Residential construction was at a seasonally adjusted annual rate of $351.7 billion in August, 0.1 percent below the revised July estimate of $352.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $333.3 billion in August, 1.4 percent below the revised July estimate of $338.1 billion.
In August, the estimated seasonally adjusted annual rate of public construction spending was $275.9 billion, 0.9 percent below the revised July estimate of $278.5 billion. Educational construction was at a seasonally adjusted annual rate of $62.3 billion, 2.9 percent below the revised July estimate of $64.1 billion. Highway construction was at a seasonally adjusted annual rate of $83.3 billion, 0.6 percent below the revised July estimate of $83.8 billion.
