Multifamily Construction Boosts Residential Spending Numbers

Posted To: MND NewsWireConstruction spending in September was largely unchanged from where it was in August. The U.S. Census Bureau said that private and public sector spending during the month was at a seasonally adjusted annual rate of $1.330 trillion, not statistically different from the 1.329.0 billion the previous month. The figure does represent a gain of 7.2 percent from September 2017 spending of $1.240.4 trillion. On a non-seasonally adjusted basis total spending during the month was $119.7 billion, down from $123.3 billion in August. In 2018 through September a total of $982.9 billion has been spent, a 5.5 percent increase over the first nine months of 2017. Privately funded construction in September was at an annual rate of $1.020 trillion, up 0.3 percent from August and 6.1 percent more than in September…(read more)Forward this article via email:¬†¬†Send a copy of this story to someone you know that may want to read it.

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Michael Ayoub, Author NMLS ID 6631