Construction spending during August 2008 was estimated at a seasonally adjusted annual rate of $1,072.1 billion, nearly the same as the revised July estimate of $1,071.8 billion, according to The U.S. Census Bureau of the Department of Commerce. The August figure is 5.9% below the August 2007 estimate of $1,138.8 billion.
During the first 8 months of this year, construction spending amounted to $713.5 billion, 5.9% below the $758.1 billion for the same period in 2007.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $759.6 billion, 0.3% below the revised July estimate of $761.8 billion. Residential construction was at a seasonally adjusted annual rate of $343.6 billion in August, 0.3% above the revised July estimate of $342.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $416.0 billion in August, 0.8% below the revised July estimate of $419.3 billion.
Public Construction
In August, the estimated seasonally adjusted annual rate of public construction spending was $312.5 billion, 0.8% above the revised July estimate of $310.0 billion. Educational construction was at a seasonally adjusted annual rate of $87.3 billion, 0.3% above the revised July estimate of $87.0 billion. Highway construction was at a seasonally adjusted annual rate of $80.6 billion, 3.9% above the revised July estimate of $77.6 billion.
August Construction Spending Flat from July
Construction spending during August 2008 was estimated at a seasonally adjusted annual rate of $1,072.1 billion, nearly the same as the revised July estimate of $1,071.8 billion, according to The U.S. Census Bureau of the Department of Commerce. The August figure is 5.9% below the August 2007 estimate of $1,138.8 billion.
During the first 8 months of this year, construction spending amounted to $713.5 billion, 5.9% below the $758.1 billion for the same period in 2007.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $759.6 billion, 0.3% below the revised July estimate of $761.8 billion. Residential construction was at a seasonally adjusted annual rate of $343.6 billion in August, 0.3% above the revised ...
During the first 8 months of this year, construction spending amounted to $713.5 billion, 5.9% below the $758.1 billion for the same period in 2007.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $759.6 billion, 0.3% below the revised July estimate of $761.8 billion. Residential construction was at a seasonally adjusted annual rate of $343.6 billion in August, 0.3% above the revised ...
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