US Construction Spending Dips Slightly In August 2014

After seeing its largest one-month gain in over two years, US construction spending dropped 0.8 percent in August. Construction spending fell in August to a seasonally adjusted annual rate of $961.0 billion. The estimate for July has been revised to $968.8 billion, down from the initial estimate last month of $981.3 billion.

aug2014cpip

According to the US Census Bureau, total construction spending from January through August was $623.1 billion which is 6.8 percent higher than the $583.2 billion spent during the same period last year (January – August 2013).

Private construction spending was at a seasonally adjusted annual rate of $685.0 billion in August. This is a 0.8 percent drop from July’s revised amount of $690.3 billion. July’s initial estimate was at a $701.7 billion seasonally adjusted annual rate. Nonresidential construction accounted for about 49 percent of all private construction spending at a seasonally adjusted annual rate of $333.3 billion.

Public construction spending in August was estimated at $275.9 billion, 0.9 percent lower than the revised July estimate of $278.5 billion. The initial estimate for public construction spending for July was $279.6 billion.

aug2014pubvsprispending

Construction spending has been up and down over the last few months, but it shouldn’t cause too much of a concern. The August 2014 annual rate of $961.0 billion is 5.0 percent higher than the August 2013 estimate of $915.3 billion. If construction spending continues at its current rate of $961.0 billion through the rest of the year, construction spending in 2014 will be about 5.5 percent higher than the amount spent last year.

One Response to “US Construction Spending Dips Slightly In August 2014”

  1. robert October 2, 2014 at 12:02 PM #

    How can you all help,,subs,,on getting G.c to pay up ,,,,a very large problem has bout put me out of biz. not just me,,,i am just a loud one..please dont just delite this ..gc are not paying retanage,,, i have 324.000 out sence 08 this could be fixed thro. the renuell of licens,,,any complants GC cant renue licenes,,,,simple

Leave a Reply