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U.S. construction spending rose 0.9% from revised July to a seasonally adjusted annual rate (SAAR) of $2,203.1 billion in August 2026, but the increase does not mark a clear recovery. Spending was 1.7% lower than in August 2025, and the January–August total was down 3.1% from the same period last year. The most accurate reading is a short-term uptick within a negative annual and year-to-date trend.
Did U.S. construction spending fall in August 2026?
It depends on the comparison. The monthly estimate increased from revised July, while both the year-over-year and year-to-date measures declined. The U.S. Census Bureau released its Monthly Construction Spending, August 2026 report on October 1, 2026.
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Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →| Comparison | August 2026 result | How to read it |
|---|---|---|
| August versus revised July | +0.9%, to $2,203.1 billion SAAR | Monthly increase, but statistically inconclusive |
| August versus August 2025 | −1.7% | Annual decline |
| January–August versus January–August 2025 | −3.1% | Cumulative decline |
July’s revised level was $2,184.5 billion SAAR. The August estimate was $2,203.1 billion SAAR, compared with $2,242.0 billion in August 2025. Census reported the year-over-year result as 1.7 percent below the prior-year estimate.
Why did spending rise from July but still show a negative trend?
Each comparison answers a different question. Month-over-month data show the latest change in the pace of activity; year-over-year data compare the same month across years; and year-to-date data show how the entire period is accumulating. A positive monthly result can therefore occur while the level remains below last year and the cumulative total continues to trail.
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The monthly increase also carries a statistical qualification. Census reported a 90% interval of plus or minus 1.0 percentage point around the 0.9% change. Because that interval includes zero, the agency does not find sufficient evidence that the underlying month-to-month movement differs from zero.
How much was private versus public construction spending?
Private work supplied most of the August estimate, while public work contributed the remainder. The sector figures below are seasonally adjusted annual rates; the approximate shares are arithmetic calculations from Census levels rather than separately published shares.
| Category | August 2026 SAAR | Change from revised July |
|---|---|---|
| Private construction | $1,655.3 billion | +1.1% (July: $1,637.7 billion) |
| Residential construction | $882.3 billion | +1.1% (July: $872.7 billion) |
| Private nonresidential construction | $773.0 billion | +1.0% (July: $765.0 billion) |
| Public construction | $547.8 billion | +0.2% (July: $546.8 billion) |
| Educational construction | $113.1 billion | +0.1% (July: $112.9 billion) |
| Highway construction | $150.6 billion | +0.1% (July: $150.5 billion) |
Private construction was roughly three-quarters of the total and public construction roughly one-quarter when calculated from these levels. Within private work, residential and nonresidential categories both increased at about a one-percent monthly pace. Public activity was nearly flat, with education and highways each edging up 0.1%.
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What does the Census construction-spending number actually measure?
The Census Bureau’s Value of Construction Put in Place (VIP) Survey estimates the value of work completed during the month on new structures and improvements to existing structures in private and public sectors. It is an activity measure, not a count of contracts signed, permits issued, or projects announced.
SAAR is an annualized rate, not August’s cash outlay
Seasonally adjusted annual rate converts the month’s seasonally adjusted pace into a hypothetical full-year rate. The $2,203.1 billion figure should not be read as literal, unadjusted dollars spent during August. Seasonal adjustment removes recurring calendar patterns so periods can be compared more consistently.
The estimates are not adjusted for inflation
Census states that none of the estimates are adjusted for price changes. A nominal decline can reflect less construction activity, lower project prices, or a combination; the series alone cannot provide a real, inflation-adjusted volume of work.
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Was the August increase statistically significant?
No definitive month-to-month signal was established. The reported 0.9% rise has a 90% confidence interval wide enough to include zero, so it should be described as an estimated increase rather than proof of renewed growth. The year-over-year and cumulative comparisons provide the clearer evidence of continued weakness in the trend.
What should businesses and analysts watch next?
- Revisions: Census can revise August and earlier months as additional information arrives, so July’s revised value demonstrates why historical comparisons should use the latest vintage.
- Persistence: Several consecutive monthly gains outside their confidence intervals would provide stronger evidence of a turn than one inconclusive increase.
- Mix: Residential, private nonresidential, public, education, and highway categories can move differently; a total that rises may still conceal weakness in a major segment.
- Price context: Because the series is nominal, users comparing real construction volume need a separate price measure.
- Release timing: The Federal Reserve Bank of St. Louis (FRED) identifies Census as the source and lists November 2, 2026 as the next release date for the series.
Frequently Asked Questions
When was the August 2026 construction-spending report released?
The Census Bureau published the August 2026 Monthly Construction Spending release on October 1, 2026. Subsequent releases may revise both August and earlier monthly estimates.
Can the spending series be used to calculate real construction growth?
Not by itself. Census reports nominal values and explicitly says the estimates are not adjusted for price changes, so a real-growth calculation requires an appropriate construction-price measure.
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Does the VIP survey include only new buildings?
No. It covers work put in place on new structures and improvements to existing structures across private and public sectors. It measures completed activity during the month rather than future commitments.
Why might analysts prefer year-to-date data to one monthly reading?
A cumulative comparison incorporates all months in the period and is less dependent on one noisy estimate. It still remains subject to revisions and does not remove the need to account for price changes.
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