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In The News:

August Construction Spending Up Slightly

Construction spending in August 2010 was estimated at a seasonally adjusted annual rate of $811.8 billion, 0.4 percent above the revised July estimate of $808.6 billion, according to the U.S. Census Bureau of the Department of Commerce. The August figure is 10 percent below the August 2009 estimate of $901.8 billion.

During the first 8 months of this year, construction spending amounted to $539.4 billion, 11.2 percent below the $607.5 billion for the same period in 2009.

Spending on private construction was at a seasonally adjusted annual rate of $498.2 billion, 0.9 percent below the revised July estimate of $502.6 billion. Residential construction was at a seasonally adjusted annual rate of $238.5 billion in August, 0.3 percent below the revised July estimate of $239.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $259.7 billion in August, 1.4 percent below the revised July estimate of $263.5 billion.

In August, the estimated seasonally adjusted annual rate of public construction spending was $313.6 billion, 2.5 percent above the revised July estimate of $306.0 billion. Educational construction was at a seasonally adjusted annual rate of $74.0 billion, 0.8 percent below the revised July estimate of $74.6 billion. Highway construction was at a seasonally adjusted annual rate of $83.4 billion, 5.0 percent above the revised July estimate of $79.4 billion.

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