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Housing Starts Rise Over 15 Percent In Northeast For July
Housing Starts Rise Over 15 Percent In Northeast For July
Housing Starts Rise Over 15 Percent In Northeast For July
Housing Starts Rise Over 15 Percent In Northeast For July
Housing Starts Rise Over 15 Percent In Northeast For July

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

Oct. 7, 2017
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 a seasonally adjusted annual rate of $954.8 billion, 0.4% above the revised July estimate of $950.5 billion. Residential construction was at a seasonally adjusted annual rate of $520.9 billion in August, 0.4% above the revised July estimate of $518.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $433.9 billion in August, 0.5% above the revised July estimate of $432.0 billion.

The commercial category and the $82.6 billion in construction it had for August stood out with a +10.4% year-over-year increase. On the flip side, the manufacturing segment had $60.8 billion in new construction but continued to slump with a -4.3% decrease from July and a -20.8% decline from Aug. 2016.

Public construction. In August, the estimated seasonally adjusted annual rate of public construction spending was $263.5 billion, 0.7% above the revised July estimate of $261.7 billion. Educational construction was at a seasonally adjusted annual rate of $67.3 billion, 3.5% above the revised July estimate of $65 billion.