The U.S. Census Bureau of the Department of Commerce announced today that construction spending during September 2015 was estimated at a seasonally adjusted annual rate of $1,094.2 billion, 0.6% above the revised August estimate of $1,087.5 billion. The September figure is 14.1% above the September 2014 estimate of $959.2 billion. During the first nine months of this year, construction spending amounted to $786.6 billion, 10.5% above the $711.8 billion for the same period in 2014.
Private construction. Spending on private construction was at a seasonally adjusted annual rate of $794.2 billion, 0.6% above the revised August estimate of $789.7 billion. Residential construction was at a seasonally adjusted annual rate of $394.7 billion in September, 1.9% above the revised August estimate of $387.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $399.5 billion in September, 0.7% below the revised August estimate of $402.2 billion.
Public construction. In September, the estimated seasonally adjusted annual rate of public construction spending was $300.0 billion, 0.7% above the revised August estimate of $297.8 billion. Educational construction was at a seasonally adjusted annual rate of $69.1 billion, 2.4% above the revised August estimate of $67.5 billion. Highway construction was at a seasonally adjusted annual rate of $91.2 billion, 0.3% above the revised August estimate of $90.9 billion.
