August 2021 Construction Spending – US Census Bureau
Total construction spending has seen no change from last month, July 2021, but an 8.9% increase since August 2020. Residential construction has grown 8.9% since August 2020. Despite the strength of the residential market, commercial construction has decreased -3.0% since August 2020. Additionally, inflation over this period has decreased the value of total construction spending further. The most resilient nonresidential markets over the past 12 months have been Sewage and Waste, up 7.5%, Health care, up 6.9%, and Highway and Street, up 2.7%. Manufacturing has seen a small increase in spending, 2.1% over the last year however this is in line with the rate of inflation. Of all private construction, the religious, office, and transportation sectors have seen 2% drops from July 2021.