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Construction Data: United States Construction Spending Maintains Modest Gains
September saw a rise in construction spending of 8.7% annually.
United States Of America – Construction Spending Data had a upwardly corrected 1% gain in the previous month that matched market predictions, construction spending in the US increased by 0.4% month over month to a seasonally adjusted annual rate of $1,996.5 billion in September 2023, the lowest level in five months.
In September, private spending increased by 0.4%. This gain was mostly due to a 0.6% increase in the residential category, namely in single-family projects, which saw a 1.3% increase.
The 0.1% fall in multi-family housing projects was offset by this growth. Concurrently, non-residential segment spending increased by 0.1%. Public spending increased by 0.4% during this time, partially offsetting the decline in the residential sector (-3.2%) by growth in the non-residential segment (+0.5%). September saw a rise in construction spending of 8.7% annually.