US Construction Spending Rose 0.9% in August, Topping Market Forecasts

U.S. construction spending increased 0.9% month-over-month in August to a seasonally adjusted annual rate of $2,203.1 billion, exceeding market forecasts of flat 0.0% growth. The performance rebounded from a revised 0.1% decline in July, which was initially reported as a 0.5% drop. Growth was driven by private construction spending, which climbed 1.1% to $1,655.3 billion, while public construction edged up 0.2% to $547.8 billion. Despite the monthly gains, total August construction spending declined 1.7% year-on-year, and spending during the first eight months of 2026 lagged the same period in 2025 by 3.1%.