September Construction Spending Slightly Below 2006

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September Construction Spending: In Detail

MDM Databank

Untitled Document

October 31, 2007

September Construction Spending Slightly Below 2006

Construction spending in September 2007 was estimated at a seasonally adjusted annual rate of $1,162.8 billion, 0.3% above the revised August estimate. The September figure is 0.8% below the September 2006 estimate.

During the first nine months of this year, construction spending was $872.2 billion, 3.2% below the same period in 2006.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $869.0 billion, 0.2% below the revised August estimate. Residential construction was at a seasonally adjusted annual rate of $511.4 billion in September, 1.4% below the revised August estimate. Nonresidential construction was at a seasonally adjusted annual rate of $357.7 billion in September, 1.5% above the revised August estimate of $352.4 billion.

Public Construction

In September, the estimated seasonally adjusted annual rate of public construction spending was $293.8 billion, 1.9% above the revised August estimate. Educational construction was at a seasonally adjusted annual rate of $84.6 billion, 2.3% above the revised August estimate. Highway construction was at a seasonally adjusted annual rate of $76.0 billion, 0.3% above the revised August estimate.

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