Total construction spending in the U.S. in August was estimated by the Census Bureau today to be at the seasonally adjusted annual rate of $961.0 billion, down 0.8 percent from spending in July and 5.0 percent higher than the $915.3 in construction outlays in August 2013.  Total spending in June was revised up from the original estimate of $963.7 billion to $968.8 billion.

Construction spending in August was estimated at $89.3 billion on a non-annualized basis compared to $87.6 billion in July.  Year-to-date spending this year is estimated at $623.1 billion compared to $583.2 billion at the same point in 2013.

Spending on private construction was at a seasonally adjusted annual rate of $685.0 billion, also 0.8 percent below the revised July figure (from $701.7 billion) of $690.3 billion and a year-over-year increase of 6.3 percent.  On a non-adjusted basis there was $61.2 billion in private construction put in place, up from $60.4 billion in July and $59.2 billion in August 2013.  Year-to-date expenditures total $446.7 billion, a 9.7 percent increase over the $407.2 billion spent by the same time in 2013.

Private spending on residential construction slipped 0.1 percent in August from $352.1 billion to $351.7 billion on an annualized basis.  The August number was 3.7 percent higher than the $339.2 billion spent on private residential construction one year earlier.

On a non-annualized basis residential construction expenditures totaled $33.3 billion during the month compared to $32.1 billion in July and $59.2 billion a year earlier.

Year to date residential construction spending at the end of August stood at $231.6 billion compared to $214.4 billion at the same point in 2013, an increase of 8.0 percent.

Publicly funded construction in August was at a seasonally adjusted annual rate of $275.9 billion, down 0.9 percent from July and a 1.9 percent increase from August 2013.  Public spending on residential construction was $5.5 billion, a 3.3 percent increase from July but down nearly 15 percent from the level of spending a year earlier.