Construction Slides in August
Simonson said August’s decline was broad-based. The value of nonresidential private buildings, estimated at $196.7 billion in August, shrank by 3% from July and 13% from its peak in March. Highway construction dropped 10% from July to August, offsetting small gains in other categories of public construction, and residential private construction has slipped, and is now 3% below its high-water mark in February.
For more information, go to www.census.gov/pub/const/c30 curr.pdf (website).