US Construction Spending Falls 1.9% in September 2026
Total construction spending dropped to $2.19 trillion in September, down from a revised $2.23 trillion in August, the Census Bureau reported.
U.S. construction spending declined 1.9 percent in September 2026 to a seasonally adjusted annual rate of $2,186.1 billion, according to data released by the U.S. Census Bureau. The retreat followed a revised August 2026 figure of $2,227.4 billion, which itself reflected a 2.0 percent monthly gain.
The September drop, measured within a margin of error of plus or minus 0.7 percentage points, represents a notable reversal after the upward momentum recorded in August. The back-to-back swing underscores the month-to-month volatility that frequently characterizes construction outlays, which are sensitive to weather, interest rates, and project financing conditions.
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The Census Bureau revised the August estimate upward before releasing the September figures, a routine adjustment that can shift the trajectory of the series. The revised August gain of 2.0 percent now serves as a higher baseline against which September's decline is measured, amplifying the apparent pullback.
Construction spending data encompass residential, nonresidential, and public-sector projects across the country. Analysts watch the series closely as a leading indicator of broader economic activity, given its linkages to employment in the trades, demand for building materials, and capital investment by both private developers and government agencies.
Continue reading at U.S. Census Bureau Economic Briefing Room.
