Setting a new record, construction spending during September 2020 was estimated at a seasonally adjusted annual rate of $1,414.0 billion, 0.3 percent above the revised August estimate of $1,410.4 billion. The September figure is 1.5 percent above the September 2019 estimate of $1,393.3 billion. The largest gain ($11.7 billion) was registered in residential spending (offsetting some slippage in non-residential), while overall public sector spending dropped over $12 billion. During the first nine months of this year, construction spending amounted to $1,058.5 billion, a solid 4.1 percent above the $1,016.7 billion for the same period in 2019.

PRIVATE CONSTRUCTION:

Private Construction Spending on private construction was at a seasonally adjusted annual rate of $1,074.9 billion, 0.9 percent above the revised August estimate of $1,065.6 billion. Residential construction was at a seasonally adjusted annual rate of $610.9 billion in September, 2.8 percent above the revised August estimate of $594.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $464.1 billion in September, 1.5 percent below the revised August estimate of $471.3 billion. 

READ MORE....