American Construction Spending Flat in August

Source: US Census Bureau

Overall construction spending fell flat in August, as private construction posted a slight decline while public construction saw slight gains. XHB is up 0.28%, and PKB is up 0.50%.

• Total construction spending for the month stood at $1.584 trillion in August, unchanged from the revised July estimate, and 8.9% up from $1.455 trillion a year ago.
• Total private construction for the month posted a 0.1% decline to $1.242 trillion from July’s $1.243 trillion.
• Residential construction climbed 0.4% to $786.6 billion while nonresidential construction fell 1.0% to $455.6 billion.
• Public construction spending was recorded at $341.9 billion, marking a 0.5% increase from July’s $340.3 billion.
• Education construction gained 1.1% to $79.8 billion, and highway construction jumped 1.6% to $98.3 billion.