Construction Spending Annual Rates for August 2013 at Highest Level in 4 Years

October 23, 2013

Eli Y. Robbins Construction Law


According to the U.S. Census Bureau of the Department of Commerce, total construction spending for August 2013 was estimated at a seasonally adjusted annual rate of $915.1 billion, putting construction spending at its highest level in four years. This rate is up 0.6 percent from the revised July estimate of $909.4 billion. When compared to last year’s numbers, the August rate is up 7.1 percent from that of the August 2012 rate, which was estimated at $854.0 billion. Construction spending has totaled to $581.9 billion for the first 8 months of 2013, which is a 5.9 percent increase compared to last year’s figures for the same period ($549.4 billion).

Private construction spending was estimated at a seasonally adjusted annual rate of $640.5 billion, which is up 0.7 percent from July’s revised estimate of $636.1 billion. Residential construction spending for August was at a seasonally adjusted annual rate of $340.2 billion, up 1.2 percent from the previous month’s revised estimate of $336.2 billion. Nonresidential construction spending for August was estimated at $300.3 billion, which is a slight increase of 0.1 percent over July’s revised estimate of $299.9 billion.

Public construction spending was estimated at a seasonally adjusted annual rate of $274.5 billion, up 0.4 percent from July’s revised estimate of $273.4 billion. Educational construction spending for August was at an adjusted rate of $63.8 billion, down 1.3 percent from the revised July estimate of $64.6 billion. Highway construction spending was estimated at an adjusted rate of $80.6 billion for August, slightly increasing by 0.1 percent over July’s revised estimate of $80.5 billion.

For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.