August U.S. Construction Spending Dips

U.S. construction spending in August was estimated at a seasonally adjusted annual rate of $1.781 trillion, down 0.7% from July but an 8.5% increase over the year prior.  Year-to-date were 10.9% higher at $1.183 billion over 2021.

Private construction spending was $1.426 trillion, 0.6% lower than July’s seasonally adjusted annual rate. Residential totals for August dropped 0.9% from the previous month to $912.9 billion and non-residential totals rose 0.1% from July at $513.1 billion. See U.S. Census Bureau

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