Construction spending decreased 0.5
percent from August to September according to data released by the U.S. Census
Bureau. Total spending was at a seasonally adjusted annual rate of $1.574
trillion, 7.8 percent more than was spent in September 2020. Residential
construction spending eased back slightly in September, but it and its single-
and multifamily components are still running ahead of any 2020 comparisons by
Total construction spending on a
non-adjusted basis was $143.642 billion compared to $147.622 billion in August.
For the year-to-date (YTD) construction has consumed $1.178 trillion, 7.1
percent more than the $1.100 spent during the first nine months of last year.
Construction put in place in the private
sector was at a seasonally adjusted $1.230 trillion, down from $1.236 trillion
the prior month, an 0.5 percent decline. Private spending across all project
types was 11.1 percent higher than the previous September.