US Construction Spending Tumbles in September
Residential investment slumped 5.5% as higher mortgage rates and materials costs weighed on renovation spending, the Commerce Department said.
- On Monday, The Commerce Department's Census Bureau reported that construction spending fell 1.9% in September, reversing the upwardly revised 2.0% gain seen in August.
- High material costs depressed residential renovation projects, while Freddie Mac data shows 30-year mortgage rates soared at least 125 basis points since the US-Israeli war with Iran began.
- Spending on private construction projects decreased 2.4% in September, while residential investment slumped 5.5% and multifamily housing units edged up 0.1%.
- State and local government construction spending fell 0.3%, but public outlays on federal government projects jumped 2.5%.
- Economists polled by Reuters had forecast a 0.3% climb in construction spending, missing the actual decline that followed a previously reported 0.9% rise in August.
15 Articles
15 Articles
Construction expenditures in the United States totalled US$ 2,186 trillion in September, a decrease of 1.9% on the revised August reading, which stood at US$ 2,227 trillion, according to data from the U.S. Department of Commerce released on Monday (2). The reading was below the average estimate of a group of analysts, which pointed to a high of 0.4%. In relation to the same period of the previous year, there was a fall of 2.7%. In the private se…
Multifamily construction spending edges higher in September
The Census Bureau’s report on construction spending stated that the value of multifamily residential construction put in place rose 0.06 percent in September from the revised level of the month before. However, spending on single-family residential construction declined 0.01 percent, while spending on improvements was down 13 percent. The value of total private residential construction [...]
Private Residential Construction Slips as Remodeling Weakens
Private residential construction spending decreased in September 2026 driven by a steep decline in improvement (remodeling) spending. According to the latest construction spending data from the U.S. Census Bureau, private residential construction spending came in at a seasonally adjusted annual rate (SAAR) of $848.8 billion in September, down 5.5% from the revised August estimates and […]
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