U.S. Construction Spending Inches Upward
U.S. construction spending during September was estimated at a seasonally adjusted annual rate of $1.22 trillion, rising 0.3% from August and 2% higher than the year ago period. Year-to-date spending was up 4.3% from 2016 at $917 billion.
Private construction spending dipped 0.4% from August to an annual rate of $942.7 billion. Residential levels were even with the previous month at $515.4 billion and nonresidential totals were down 0.8% from August at $427.3 billion. See U.S. Census Bureau