Construction Spending Up in August

U.S. construction spending in August was estimated at a seasonally adjusted annual rate of $2.0 trillion, growing 0.5% from July and 7.4% higher than the same month last year. Year-to-date construction spending increased 4.2% to $1.3 trillion compared to the first eight months of 2022.

Private construction spending was $1.6 trillion, climbing 0.5% from July. Residential totals were $879.9 billion in August, up 0.6% from the previous month. Non-residential spending was $671.9 billion, rising 0.3% from July. See U.S. Census Bureau

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