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 figure fell from a revised August 2026 estimate of $2,227.4 billion, which itself reflected a 2.0 percent month-over-month gain.
The September drop, measured within a margin of error of plus or minus 0.7 percentage points, signals a notable pullback after August's upward revision. The back-to-back swing — a gain followed by a decline of comparable magnitude — suggests volatility in construction activity rather than a sustained directional trend.
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Construction spending data track dollars put in place across residential, nonresidential, and public-sector projects. Month-to-month swings in the series can reflect seasonal factors, project timelines, and broader credit conditions affecting builders and developers. The August revision upward slightly softened the net impact of September's decline when viewed over the two-month window.
Analysts watching the sector will note that a sub-$2.2 trillion annualized rate represents a meaningful step back from August's revised peak, though the figure remains historically elevated. Further revisions to the September estimate are possible as additional data are incorporated in subsequent Census Bureau releases.
Continue reading at U.S. Census Bureau Economic Briefing Room.
