Construction spending barely inches forward
National Association of Home Builders | October 02, 2018
The U.S. Census Bureau of the Department of Commerce announced that construction spending during August 2018 was estimated at a seasonally adjusted annual rate of $1.319 trillion, only 0.1% above the revised July estimate of $1.317 trillion. Spending on private construction was at a seasonally adjusted annual rate of $1.0017 trillion, 0.5% below the revised July estimate of $1.0069 trillion. Of that, residential construction was at a seasonally adjusted annual rate of $548.9 billion in August 0.7% below the revised July estimate of $553 billion.