Construction Industry Round Table (CIRT) - Construction Spending Climbs Further in August

Construction Spending Climbs Further in August

Fri, October 01, 2021 2:11 PM | Anonymous

Construction spending during August 2021 was estimated at a seasonally adjusted annual rate of $1,584.1 billion, virtually unchanged from the large upwardly revised July estimate of $1,584.0 billion. The August figure is a large 8.9 percent above the August 2020 estimate of $1,455.0 billion. During the first eight months of this year, construction spending amounted to $1,034.5 billion, a very healthy 7.0 percent above the $966.7 billion for the same period in 2020.

PRIVATE CONSTRUCTION:
Spending on private construction was at a seasonally adjusted annual rate of $1,242.2 billion, 0.1 percent below the revised July estimate of $1,243.7 billion. Residential construction was at a seasonally adjusted annual rate of $786.6 billion in August, 0.4 percent above the revised July estimate of $783.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $455.6 billion in August, 1.0 percent below the revised July estimate of $460.2 billion.