September Construction Spending Up

U.S. construction spending in September was estimated at a seasonally adjusted annual rate of $1.997 trillion, growing 0.4% from August and 8.7% higher than the same month last year. Year-to-date construction spending increased 4.6% to $1.464 trillion compared to the first nine months of 2022.

Private construction spending was $1.556 trillion, climbing 0.4% from August. Residential totals were $872.0 billion in September, up 0.6% from the previous month. Non-residential spending was $683.9 billion, rising 0.1% from August. See U.S. Census Bureau

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