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GOOD NEWS: Construction Spending Edges Upward in September 2020

November 3rd, 2020 | by NEWCA

The U.S. Commerce Department reported earlier this week that outlays for construction projects went up .3 percent at a seasonally adjusted rate of $1.41 trillion. While the uptick is welcome, it fell short of the expected .9 percent by economists polled by Econoday.

As has been the case throughout most of the COVID-19 situation, residential construction growth outpaced non-residential and public construction. Residential grew by 2.7 percent in September, while public construction projects and non-residential construction fell by 1.7 percent and 1.6 percent respectively.

You can read more about the report here, and actually review Commerce’s economic indicators here.

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