August Construction Put in Place

The U.S. Census Bureau of the Department of Commerce announced today that construction spending during August 2009 was estimated at a seasonally adjusted annual rate of $941.9 billion, 0.8 percent (±1.8%)* above the revised July estimate of $934.6 billion. The August figure is 11.6 percent (±1.8%) below the August 2008 estimate of $1,066.1 billion.

During the first 8 months of this year, construction spending amounted to $629.5 billion, 11.9 percent (±1.3%) below the $714.3 billion for the same period in 2008.

Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $622.1 billion, 1.8 percent (±1.1%) 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 (±1.3%) 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 (±1.1%)* 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 (±2.7%)* 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 (±4.2%)* the revised July estimate of $89.3 billion. Highway construction was at a seasonally adjusted annual rate of $85.2 billion, 0.8 percent (±7.5%)* above the revised July estimate of $84.5 billion.

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