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In The News:

August Construction Spending Declines 0.6% from July

October 1, 2012
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Construction spending during August 2012 was estimated at a seasonally adjusted annual rate of $837.1 billion, 0.6 percent below the revised July estimate of $842 billion, according to the latest release from the U.S. Census Bureau. The August figure is 6.5 percent above the August 2011 estimate of $786.3 billion.

During the first 8 months of this year, construction spending amounted to $545.2 billion, 9 percent above the $500.1 billion for the same period in 2011.

Spending on private construction was at a seasonally adjusted annual rate of $562.2 billion, 0.5 percent below the revised July estimate of $564.8 billion. Residential construction was at a seasonally adjusted annual rate of $273.5 billion in August, 0.9 percent above the revised July estimate of $271.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $288.7 billion in August, 1.7 percent below the revised July estimate of $293.7 billion.

In August, the estimated seasonally adjusted annual rate of public construction spending was $274.9 billion, 0.8 percent below the revised July estimate of $277.2 billion. Educational construction was at a seasonally adjusted annual rate of $67.0 billion, 3.4 percent below the revised July estimate of $69.4 billion. Highway construction was at a seasonally adjusted annual rate of $80.8 billion, 0.6 percent below the revised July estimate of $81.3 billion.

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