Multifamily Construction Boosts Residential Spending Numbers

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Posted To: MND NewsWire

Construction spending in September was largely unchanged from where it was in August. The U.S. Census Bureau said that private and public sector spending during the month was at a seasonally adjusted annual rate of $1.330 trillion, not statistically different from the 1.329.0 billion the previous month. The figure does represent a gain of 7.2 percent from September 2017 spending of $1.240.4 trillion. On a non-seasonally adjusted basis total spending during the month was $119.7 billion, down from $123.3 billion in August. In 2018 through September a total of $982.9 billion has been spent, a 5.5 percent increase over the first nine months of 2017. Privately funded construction in September was at an annual rate of $1.020 trillion, up 0.3 percent from August and 6.1 percent more than in September…(read more)

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