According to the U.S. Census Bureau of the Department of Commerce, total construction spending for September 2015 was estimated at a seasonally adjusted annual rate of $1,094.2 billion. This rate is an increase of 0.6 percent from the revised August estimate of $1,087.5 billion. Compared to a year ago, the September rate is up 14.1 percent from that of the September 2014 rate, which was estimated at $959.2 billion. So far this year, construction spending has totaled $786.6 billion, an increase of 10.5 percent compared to the $711.8 billion for the first nine months of 2014.
Private construction spending in September was estimated at a seasonally adjusted annual rate of $794.2 billion, increasing by 0.6 percent from the revised August estimate of $789.7 billion. Residential construction spending for September was at a seasonally adjusted annual rate of $394.7 billion, an increase of 1.9 percent from the previous month’s revised estimate of $387.5 billion. Nonresidential construction spending for September was estimated at $399.5 billion, down 0.7 percent from the revised August estimate of $402.2 billion.
Public construction spending was estimated at a seasonally adjusted annual rate of $300.0 billion, up 0.7 percent from the revised August estimate of $297.8 billion. Educational construction spending for September was at an adjusted rate of $69.1 billion, up 2.4 percent from the revised August estimate of $67.5 billion. Highway construction spending was estimated at an adjusted rate of $91.2 billion for September, rising 0.3 percent from the revised August estimate of $90.9 billion.
For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.