September U.S. Construction Spending Increased

U.S. construction spending in September was estimated at a seasonally adjusted annual rate of $1.811 trillion, up 0.2% from August and growing 10.9% over the year prior. Year-to-date spending was 11.4% higher than 2021 at $1.354 billion.

Private construction spending was $1.450 trillion, 0.4% above August’s seasonally adjusted annual rate. Residential totals for September remained at $918 billion, and non-residential totals rose 1% from August to $523.3 billion. See U.S. Census Bureau

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