Construction spending increased to a seasonally adjusted annual rate of $1,318.5 billion in August 2018. This is 0.1% higher than July’s estimate which has been revised up from $1,315.4 billion to $1,317.4 billion. June’s estimate was revised back up from $1,314.2 billion to $1,314.8 billion, per the latest report from the U.S. Census Bureau.

The August estimate for total construction spending is 6.5% above where it was a year ago when the August 2017 estimate was $1,237.5 billion. Total construction put in place (CPIP) for the first eight months of 2018 totaled $862.0 billion. This is a 5.3% increase over the $818.7 billion spent from January through August 2017.

For August, total nonresidential construction spending was up 0.7% to a seasonally adjusted annual rate of $762.7 billion. July’s estimate was revised up from $748.8 billion to $757.7 billion. June’s estimate was revised up again from $751.1 billion to $756.7 billion. Total nonresidential construction is up 8.4% from a year ago.

Total residential construction was at an estimated seasonally adjusted annual rate of $555.8 billion in August. This is 0.7% below July’s estimate which was revised down from $566.6 billion to $559.7 billion. June’s estimate which has been revised down again from $563.2 billion to $558.1 billion. Total residential spending has increased 4.1% over the last year.

Private construction spending fell to a seasonally adjusted annual rate of $1,001.7 billion in August. This is 0.5% below July’s estimate which has been revised down this month from $1,010.9 billion to $1,006.9 billion. June’s estimate which has been revised down again from $1,011.9 billion to 1,009.4 billion. Total private construction spending is up 4.4% over the last 12 months.

During August, private nonresidential construction was at a seasonally annual adjusted rate of $452.9 billion. This is 0.2% lower than July’s estimate which has been revised up from $450.9 billion to $453.9 billion. June’s estimate which has been revised up from $455.3 billion to $457.8 billion. Private nonresidential construction spending has increased by 4.8% over the past year.

Private residential construction spending was at a seasonally adjusted annual rate of $548.9 billion in August. This is 0.7% lower than July’s estimate which has been revised down from $560.1 billion to $553.0 billion. June’s estimate which was revised down again from $556.7 billion to $551.7 billion. August’s annual rate for private residential construction is up 4.0% over the last year.

The seasonally adjusted annual rate for public construction spending in August was $316.7 billion. This is 2.0% higher than July’s estimate which was revised up from $304.5 billion to $310.5 billion. June’s estimate which has been revised up again from $302.3 billion to $305.4 billion. August’s seasonally adjusted annual rate of public construction spending was up an outstanding 14.0% from a year ago when the August 2017 estimate was $277.9 billion.