U.S. construction spending in August was estimated at a seasonally adjusted annual rate of $2.13 trillion, dipping 0.1% from July but 4.1% higher than the same month in 2023.
Private spending fell 0.2% to $1.64 trillion in August. Residential expenditures dropped 0.3% to $899.9 billion, and non-residential expenditures slipped 0.1% from July to $742.2 billion.
In both the private and public sectors, educational spending was $127.1 billion, shrinking 0.2% from last month but up 5.4% from August 2023. Construction spending in healthcare was $66.7 billion, 0.1% higher than July and up 2.8% from the comparable month last year. Commercial construction spending totaled $124.6 billion, a decline of 0.5% from July and 13.4% from August 2023. See U.S. Census Bureau