The Census Bureau reports that construction spending rose at a seasonally adjusted annual rate of $851.6 billion in September, 0.6% higher than the revised August estimate of $846.2 billion. Total construction spending is now up 7.8% year over year.
Nonresidential construction was at a SAAR of $294.6 billion, 0.1% below the August revised estimate of $294.8 billion. Nonresidential construction is now up 5.13% Y/Y.
Residential construction was at a SAAR of $285.9 billion, 2.8% above the revised August estimate of $278.0 billion. Residential construction is now up 22.5% Y/Y.
Public construction was at a SAAR of $272.1 billion, 0.8% below the revised August estimate of $273.4 billion. Public construction is now down 0.05% Y/Y.
