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In The News:

Construction Spending Up from August

Construction spending during September 2010 was estimated at a seasonally adjusted annual rate of $801.7 billion, 0.5 percent above the revised August estimate, according to the U.S. Census Bureau of the Department of Commerce. The September figure is 10.4 percent below the September 2009 estimate of $894.8 billion.

During the first nine months of this year, construction spending amounted to $612.6 billion, 11.2 percent below the $689.9 billion for the same period in 2009.

Spending on private construction was at a seasonally adjusted annual rate of $482 billion, nearly the same as the revised August estimate of $481.9 billion. Residential construction was at a seasonally adjusted annual rate of $231.7 billion in September, 1.8 percent above the revised August estimate of $227.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $250.3 billion in September, 1.6 percent below the revised August estimate of $254.3 billion.

In September, the estimated seasonally adjusted annual rate of public construction spending was $319.7 billion, 1.3 percent above the revised August estimate of $315.5 billion. Educational construction was at a seasonally adjusted annual rate of $78.1 billion, 1.6 percent above the revised August estimate of $76.9 billion. Highway construction was at a seasonally adjusted annual rate of $84.9 billion, 0.1 percent below the revised August estimate of $85 billion.

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