Ewweb 6414 San Fran Construction 1025
Ewweb 6414 San Fran Construction 1025
Ewweb 6414 San Fran Construction 1025
Ewweb 6414 San Fran Construction 1025
Ewweb 6414 San Fran Construction 1025

August Value of New Construction Holds Steady

Oct. 10, 2019
The Value of New Construction continues on its steady-but-unspectacular pace, according to the latest data from the U.S. Census Bureau.

Construction spending during August 2019 was estimated at a seasonally adjusted annual rate of $1,287.3 billion, 0.1% above the revised July estimate of $1,285.6 billion. The U.S. Census Bureau said the August figure is -1.9% percent below the August 2018 estimate of $1,312.2 billion. During the first eight months of this year, construction spending amounted to $851.3 billion, -2.3% below the $871.3 billion for the same period in 2018.
 

Private construction. Spending on private construction was at a seasonally adjusted annual rate of $955 billion, nearly the revised July estimate of $954.8 billion. Residential construction was at a seasonally adjusted annual rate of $507.2 billion in August, +0.9% above the revised July estimate of $502.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $447.9 billion in August, -1% . below the revised July estimate of $452.3 billion.
Private office construction maintained a healthy year-over-year pace, checking in with a +6.2% increase over Aug. 2018 to $68.8 billion. Private health care construction also came in comparatively strong, with a +4.6% YOY increase to $34.1 billion.


Public construction. In August, the estimated seasonally adjusted annual rate of public construction spending was $332.3 billion, +0.4% above the revised July estimate of $330.8 billion. Educational construction was at a seasonally adjusted annual rate of $77.0 billion, +1.4% above the revised July estimate of $75.9 billion, but down -1.2% over Aug. 2018. Construction of public amusement and recreation facilities showed strong YOY data with a +15.1% increase to $14.3 billion in August.