Posted To: MND NewsWire

Construction spending decreased 0.5 percent from August to September according to data released by the U.S. Census Bureau. Total spending was at a seasonally adjusted annual rate of $1.574 trillion, 7.8 percent more than was spent in September 2020. Residential construction spending eased back slightly in September, but it and its single- and multifamily components are still running ahead of any 2020 comparisons by double digits. Total construction spending on a non-adjusted basis was $143.642 billion compared to $147.622 billion in August. For the year-to-date (YTD) construction has consumed $1.178 trillion, 7.1 percent more than the $1.100 spent during the first nine months of last year. Construction put in place in the private sector was at a seasonally adjusted $1.230 trillion, down from…(read more)

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Published On: November 2, 2021 / Categories: Mortgage News /