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October 03, 2023US CONSTRUCTION SPENDING, AUGUST 2023 Month over month August 2023 vs 2023 July, seasonally adjusted annual rate)
The United States construction spending increased 0.5% to $1,983.5 billion. Total residential construction increased 0.6% to $889.8 billion. Total non-residential construction spending increased 0.4% to $1,093.7 billion.
Private sector construction increased 0.5% to $1,551.8 billion. Private residential construction increased 0.6% to $879.9 billion, while private non-residential construction spending increased 0.3% to $671.9 billion.
Public sector construction increased 0.6% to $431.6 billion. Public residential construction decreased 1.1% to $9.9 billion, while public non-residential construction spending increased 0.6% to $421.7 billion.
Year-to-date (Jan-Aug 2023 vs Jan-Aug 2022)
US construction spending was up 4.2%.
- Total residential construction was down 8.9%
- Total non-residential construction was up 17.9%
- Private sector construction was up 2.0%
- Public sector construction was up 12.8%.
Source: US Census Bureau, retrieved from Federal Reserve Bank of St. Louis using FRED API.
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