According to a report by the U.S. government, total construction spending in September 2023 reached a seasonally adjusted annual rate of $1,996.5 billion. This represents a 0.4% increase compared to the revised estimate for August and an 8.7% increase compared to the same period last year. Residential construction also saw growth, with a seasonally adjusted annual rate of $872 billion in September, up 0.6% from August. For more detailed information, you can read the full report on the U.S. Census Bureau’s website.
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