The U.S. Census Bureau of the Department of Commerce estimates total construction spending during August 2014 at a seasonally adjusted annual rate of $961.0 billion, 0.8% below the revised July estimate. The August figure is 5.0% above spending in August 2013.
During the first eight months of 2014, construction spending totaled $623.1 billion, 6.8% above the same period in 2013.
Private Construction
Spending on private construction in August was at a seasonally adjusted annual rate of $685.0 billion, 0.8% below July.
August residential construction spending remained essentially flat at a seasonally adjusted annual rate of $351.7 billion, 0.1% below July.
Nonresidential construction fell 1.4% to a seasonally adjusted annual rate of $333.3 billion.
Public Construction
Public construction spending fell 0.9% in August to a seasonally adjusted annual rate of $275.9 billion.
Educational construction was estimated at a seasonally adjusted annual rate of $62.3 billion, 2.9% below the revised July estimate.
Highway construction slipped 0.6% to a seasonally adjusted annual rate of $83.3 billion.
