Industry News
Construction Spending Up 0.8 Percent in August, Lead By Residential
10/07/2009
The U.S. Census Bureau of the Department of Commerce announced that construction spending during August 2009 was estimated at a seasonally adjusted annual rate of $941.9 billion, 0.8 percent above the revised July estimate of $934.6 billion. The August figure is 11.6 percent below the August 2008 estimate of $1,066.1 billion.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $622.1 billion, 1.8 percent above the revised July estimate of $611.1 billion.
Residential construction was at a seasonally adjusted annual rate of $249.5 billion in August, 4.7 percent above the revised July estimate of $238.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $372.6 billion in August, 0.1 percent below the revised July estimate of $372.8 billion.
PUBLIC CONSTRUCTION
In August, the estimated seasonally adjusted annual rate of public construction spending was $319.8 billion, 1.1 percent below the revised July estimate of $323.5 billion.
Educational construction was at a seasonally adjusted annual rate of $89.2 billion, nearly the same as the revised July estimate of $89.3 billion. Highway construction was at a seasonally adjusted annual rate of $85.2 billion, 0.8 percent above the revised July estimate of $84.5 billion