According to the U.S. Census Bureau of the Department of Commerce, total construction spending for August 2015 was estimated at a seasonally adjusted annual rate of $1,086.2 billion. This rate is up 0.7 percent from the revised July estimate of $1,079.1 billion, and is 13.7 percent above the August 2014 estimate of $955.0 billion. Construction spending has totaled to the amount of $683.4 billion for the first eight months of 2015, an increase of 9.8 percent compared to the $622.4 billion for the same period in 2014.
Private construction spending in August was estimated at a seasonally adjusted annual rate of $788.0 billion, an increase of 0.7 percent from July’s revised estimate of $782.3 billion. Residential construction spending for August was at a seasonally adjusted annual rate of $383.3 billion, up 1.3 percent from the previous month’s revised estimate of $378.5 billion. Nonresidential construction spending for August was estimated at $404.7 billion, up 0.2 percent from July’s revised estimate of $403.8 billion.
Public construction spending was estimated at a seasonally adjusted annual rate of $298.2 billion, up 0.5 percent from July’s revised estimate of $296.8 billion. Educational construction spending for August was at an adjusted rate of $67.4 billion, a decrease of 0.2 percent from the revised July estimate of $67.5 billion. Highway construction spending was estimated at an adjusted rate of $90.4 billion for August, decreasing by 0.4 percent from July’s revised estimate of $90.7 billion.
For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.
