- Prior month -0.3%
- Seasonally adjusted annual rate $2,131.9 billion vs $2,162.7 billion prior
- Construction spending +4.1% y/y in August
- Private construction -0.2% m/m
- Public construction +0.3% m/m
- Residential -0.3% m/m, +2.7% y/y
- Nonresidential +0.1% m/m, +5.2% y/y
Construction spending dipped slightly in August but remains solidly higher compared to last year. The housing sector continues to face headwinds, while nonresidential and public construction are showing more strength.