November 02, 2021
Construction spending is expected to be $1,573.6 billion in September 2021, down 0.5% (±1.0%) from the revised August estimate of $1,582.0 billion. The September amount is $1,459.3 billion, which is 7.8% (±1.5%) higher than the September 2020 projection of $1,459.3 billion. Construction investment reached $1,177.5 billion in the first nine months of this year, up 7.1% (±1.0%) from $1,099.8 billion in the same period of 2020.
Private construction spending was $1,229.9 billion on a seasonally adjusted yearly basis, down 0.5% (±0.7%) from the revised August estimate of $1,236.1 billion. In September, residential building grew at a seasonally adjusted annual pace of $773.5 billion, down 0.4% (±1.3%) from August’s revised estimate of $776.8 billion. In September, nonresidential construction grew at a seasonally adjusted annual pace of $456.4 billion, down 0.6% (±0.7%) from August’s revised estimate of $459.3 billion.
In September, the estimated seasonally adjusted annual rate of public construction spending was $343.7 billion, 0.7% (±1.8%) below the revised August estimate of $345.9 billion. Educational construction was at a seasonally adjusted annual rate of $80.7 billion, 0.9% (±2.0%) above the revised August forecast of $80.0 billion. Highway construction was at a seasonally adjusted annual rate of $99.8 billion, 0.7% (±4.6%) below the revised August estimate of $100.5 billion.
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