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Small Monthly Gains in Construction Spending Start to Add Up; Rates Bounce Higher

Small Monthly Gains in Construction Spending Start to Add Up; Rates Bounce Higher

The total value of construction put in place during August only ticked up 0.1 percent compared to July, but the small, steady increases each month have now put spending up 6.5 percent compared to August 2017 . The Census Bureau put the seasonally adjusted annual rate of spending in August at $1,318.5 billion. The July estimate was 1,317.4 billion and the prior August it was $1,237.5 billion. On a non-adjusted basis there was $122.0 billion spent during the month, compared to $122.0 billion in July. Year-to-date (YTD) expenditures are also up significantly from last year. During the first eight months of 2017 there were $818.8 billion expended; spending during the same period this year totals $862.0 billion, an increase of 5.2 percent. Privately funded construction expenditures in August were
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