U.S. construction inches up in September
Private construction spending rises just 0.6 percent; public edges up 0.7 percent for month.
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during September 2015 was estimated at a seasonally adjusted annual rate of $1,094.2 billion, 0.6 percent (±1.8%)* above the revised August estimate of $1,087.5 billion.
The September figure is 14.1 percent (±2.1%) above the September 2014 estimate of $959.2 billion.
During the first 9 months of this year, construction spending amounted to $786.6 billion, 10.5 percent (±1.3%) above the $711.8 billion for the same period in 2014.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $794.2 billion, 0.6 percent (±0.8%)* above the revised August estimate of $789.7 billion.
Residential construction was at a seasonally adjusted annual rate of $394.7 billion in September, 1.9 percent (±1.3%) above the revised August estimate of $387.5 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $399.5 billion in September, 0.7percent (±0.8%)* below the revised August estimate of $402.2 billion.
PUBLIC CONSTRUCTION
In September, the estimated seasonally adjusted annual rate of public construction spending was $300.0 billion, 0.7 percent (±3.0%)* above the revised August estimate of $297.8 billion.
Educational construction was at a seasonally adjusted annual rate of $69.1 billion, 2.4 percent (±4.1%)* above the revised August estimate of $67.5 billion.
Highway construction was at a seasonally adjusted annual rate of $91.2 billion, 0.3 percent (±7.2%)* above the revised August estimate of $90.9 billion.
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