Private Residential Construction Spending Up 2.8% in Sept.
Originally published by: LBM Journal — November 2, 2020
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NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $610.9 billion in September. It was up 2.8% over the August estimates, marking the fourth consecutive month of growth. Total private residential construction spending was 9.9% higher than a year ago.
Among the sixteen nonresidential subcategories, thirteen were down on a monthly basis. Private nonresidential spending declined 1.5% in September, while public nonresidential construction spending was down 1.7%, ABC reported.