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October 01, 2014US CONSTRUCTION SPENDING, AUGUST 2014 U.S. construction spending decreased 0.8 percent in August 2014 to a seasonally adjusted annual rate of $961.0 billion. Compared to August 2013, construction spending was 5.0 percent higher. During the first eight months of the year, construction spending has been 6.8 per cent greater than January through August of 2013.
Spending on private construction decreased 0.8 percent from July 2014 to $685.0 billion (seasonally adjusted annual rate), 6.3 percent above the August 2013 estimate. Private residential construction decreased 0.1 per cent in the month but is 3.7 per cent higher than August 2013. Construction spending rose for both new single family (+8.3%) and multi-family (+35.9%) compared to August of last year.
Private non-residential construction decreased 1.4 per cent compared to the July 2014 estimate, but is up 9.2 per cent compared to a year ago due to in part greater construction for commercial, power and manufacturing facilities. On a year-to-date basis, total private construction is up 9.7 per cent (not seasonally adjusted).
Public construction decreased 0.9 per cent for the month of August but is higher by 1.9 per cent than August 2013. For the first eight months of the year, public construction is up 0.2 per cent in 2014.
US Census Bureau, October 1, 2014