Construction project
NEW YORK, NY - AUGUST 16: Construction laborers work on a new residential building, August 16, 2016 in the Brooklyn borough of New York City. Home construction in the U.S. accelerated in July to the fastest pace in five months. While housing starts were up 2.1 percent nationally, new construction was up 15.5 percent in the Northeast, led by a surge in new apartment and condo construction. (Photo by Drew Angerer/Getty Images)

Value of New Construction Enjoys 2.5% Bounce in August to $1,218.3 Billion

Spending for new construction during August 2017 was estimated at a seasonally adjusted annual rate of $1,218.3 billion, 0.5% above the revised July estimate of $1,212.3 billion.

Spending for new construction during August 2017 was estimated at a seasonally adjusted annual rate of $1,218.3 billion, 0.5% above the revised July estimate of $1,212.3 billion. The August figure is 2.5% above the August 2016 estimate of $1,189.1 billion. During the first eight months of this year, construction spending amounted to $806.2 billion, 4.7% above the $769.9 billion for the same period in 2016.

Private construction. Spending on private construction was at

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