Construction spending rises 0.6 percent in August to $915 billion
U.S. construction spending rose 0.6 percent in August to its highest mark since April 2009, according to a report from our sister site, Equipment World.
The figures come from preliminary data from the Commerce Department, which show that total construction spending reached $915 billion in August — a 7.1-percent gain over August 2012.
The report was scheduled to be released at the beginning of October, but the 16-day federal government shutdown delayed all reports until the government reopened last Wednesday.
Public construction spending saw its fourth consecutive month of gains, rising 0.4 percent to $274.5 billion. Private construction rose 0.7 percent to $640.5 billion — its highest mark since January 2009.
Residential spending increased 1.3 percent to $346.4 billion, while nonresidential increased 0.2 percent to $568.5 billion.
Private residential construction spending was up 1.2 percent to $340.2 billion, and private nonresidential rose 0.1 percent to $300.2 billion.
Public residential construction spending rose 4.3 percent to $6.2 billion, while public nonresidential spending rose 0.3 percent to $268.2 billion.