ARLINGTON, Va. — Nonresidential construction spending grew 0.2 percent in August and is up 1.3 percent on an annual basis, according to a release from the U.S. Census Bureau reported by the Associated Builders and Contractors (ABC).
August spending totaled $568.6 billion on a seasonally adjusted, annualized basis. The most recent monthly nonresidential construction spending data reveal that both public nonresidential construction spending (up 0.3 percent) and privately financed nonresidential construction projects (up 0.1 percent) saw modest gains in August. On a year-over-year basis, private nonresidential construction spending is up 4.3 percent while public nonresidential construction spending fell 1.9 percent.