EmailTotal construction expenditures increased 0.2% in September after increasing an upwardly revised 1.6% (from 1.4%) in August.
The Briefing.com consensus expected construction spending to increase 0.3%. The construction spending data were already incorporated in the advance third quarter GDP report and will not have an effect on future GDP revisions.
Total private construction spending increased 0.6% while public construction spending fell by 0.6%. Private residential construction increased 0.9%. Spending on home improvement projects increased 1.4% in September while expenditures for new structures increased 0.5%. Private nonresidential structures spending increased 0.3% on strong spending growth in the transportation (3.3%), health care (3.0%), and lodging (2.8%) sectors. Office (-0.8%) and commercial (-1.6%) dragged on overall nonresidential spending growth.
