US construction spending for August 2021
- Construction spending for August comes in weaker than expectations at 0.0% vs 0.3% estimate
- Total spending $1584.1B vs 1584B last month
- Private construction -0.1% to $1242.2B vs 1243.7B last month.
- Private Residential construction +0.4%
- Non Residential construction -1.0%
- Public construction +0.5%
- Public residential construction fell -1.4%
- Public non residential construction rose 0.5%
- Private educational construction rose 1.1%
- Highway construction rose 1.6% to $98.3B from $96.8B last month
Total construction is still up 8.9% YoY with Residential up 23.9% while nonresidential construction is down -3.0%.
Private construction YoY is up 13.0% with residential construction up 24.3% while nonresidential construction is down -2.3%. Transportation is down -4.2%, communication -3.7%, Power -1.2% lower. Each would increase under the Biden infrastructure plan.
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