Construction spending during September 2022 was at a seasonally adjusted annual rate of $1,811.1 billion, 0.2% (±1.0%) above the revised August estimate and 10.9% (±1.5%) above the September 2021 estimate, according to the U.S. Census Bureau. During the first nine months of the year, construction spending was $1,353.7 billion, 11.4% (±1.0%) higher than the same period in 2021.
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Private Construction
Private construction spending was at a seasonally adjusted annual rate of $1,450.3 billion, 0.4% (±0.5%) above the revised August estimate. Residential construction was at a seasonally adjusted annual rate of $918 billion, virtually unchanged (±1.3%) from the revised August estimate. Nonresidential construction was at a seasonally adjusted annual rate of $532.3 billion, 1% (±0.5%) above the revised August estimate.
Public Construction
The estimated seasonally adjusted annual rate of public construction spending in September was $360.9 billion, 0.4% (±1.8%) below the revised August estimate. Educational construction was at a seasonally adjusted annual rate of $78.2 billion, practically unchanged (±2.6%) from the revised August estimate. Finally, highway construction was at a seasonally adjusted annual rate of $108.4 billion, 1.7% (±4.3%) higher than the revised August estimate.
