Monthly Construction Spending, September 2024
Monthly Construction Spending, September 2024, Census Bureau
Construction spending estimates are comprised of estimates based on mail-out/mail-back and interview surveys of selected construction projects and building owners, and estimates developed or compiled from other Census Bureau, federal agency, and private data sources.
Total Construction
Construction spending during September 2024 was estimated at a seasonally adjusted annual rate of $2,148.8 billion, 0.1 tenth of 1 percent (±1.0 percent)* above the revised August estimate of $2,146.0 billion. The September figure is 4.6 percent (±1.6 percent) above the September 2023 estimate of $2,055.2 billion. During the first nine months of this year, construction spending amounted to $1,621.4 billion, 7.3 percent (±1.2 percent) above the $1,511.4 billion for the same period in 2023.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,653.6 billion, virtually unchanged from (±0.5 percent)* the revised August estimate of $1,653.2 billion.
Residential construction was at a seasonally adjusted annual rate of $913.6 billion in September, 0.2 tenths of 1 percent (±1.3 percent)* above the revised August estimate of $912.2 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $740.0 billion in September, and 0.1 tenth of 1 percent (±0.5 percent)* below the revised August estimate of $741.0 billion.
Public Construction
In September, the estimated seasonally adjusted annual rate of public construction spending was $495.2 billion, 0.5 of 1 percent (±1.8 percent)* above the revised August estimate of $492.9 billion.
Educational construction was at a seasonally adjusted annual rate of $104.2 billion, 0.3 tenths of 1 percent (±2.1 percent)* above the revised August estimate of $103.9 billion.
Highway construction was at a seasonally adjusted annual rate of $141.0 billion, 0.5 tenths of 1 percent (±4.4 percent)* above the revised August estimate of $140.3 billion.