YTD Residential Construction Spending Falls 8 Percent

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Posted To: MND NewsWire

Total expenditures on construction in the U.S. moved slightly higher in September but is lagging behind year-earlier figures. The annual losses are coming solely from the private sector as publicly funding spending is moving higher in the majority of building categories. The seasonally adjusted rate of spending nation-wide was $1.294 trillion in September compared to $1.287 trillion in August, a half point gain. However, that is 2.0 percent lower than in September 2018 when the annual rate was $1.320 trillion. On a non-seasonally adjusted basis, spending in September was $116.828 billion, down from 119.109 billion the prior month. Year-to-date (YTD) spending in 2019 is $968.242 billion, down 2.2 percent from the nine-month total in 2018 of $990.242 billion. Private construction expenditures…(read more)

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