September construction spending down slightly
Construction spending during September was estimated at a seasonally adjusted annual rate of $1.15 trillion, 0.4 percent below August.
The September figure is 0.2 percent below the September 2015 estimate of $1.152 trillion, according to the U.S. Census Bureau of the Department of Commerce.
During the first 9 months of this year, construction spending amounted to $863.2 billion, 4.4 percent above the $826.8 billion for the same period in 2015.
Spending on private construction was at a seasonally adjusted annual rate of $879.7 billion, 0.2 percent below the revised August estimate of $881.6 billion. Residential construction was at a seasonally adjusted annual rate of $453.7 billion in September, 0.5 percent above the revised August estimate of $451.3 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $426.0 billion in September, 1.0 percent below the revised August estimate of $430.2 billion.
In September, the estimated seasonally adjusted annual rate of public construction spending was $270.3 billion, 0.9 percent below the revised August estimate of $272.8 billion.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
