Construction Inches Up in August
All categories report modest increases over July.
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during August 2011 was estimated at a seasonally adjusted annual rate of $799.1 billion, 1.4 percent (±2.1%)* above the revised July estimate of $788.3 billion. The August figure is 0.9 percent (±1.9%)* above the August 2010 estimate of $791.7 billion.
During the first 8 months of this year, construction spending amounted to $511.4 billion, 3.0 percent (±1.3%) below the $527.3 billion for the same period in 2010.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $511.0 billion, 0.4 percent (±1.3%)* above the revised July estimate of $508.9 billion.
Residential construction was at a seasonally adjusted annual rate of $237.8 billion in August, 0.7 percent (±1.3%)* above the revised July estimate of $236.2 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $273.1 billion in August, 0.2 percent (±1.3%)* above the revised July estimate of $272.6 billion.
PUBLIC CONSTRUCTION
In August, the estimated seasonally adjusted annual rate of public construction spending was $288.2 billion, 3.1 percent (±3.0%) above the revised July estimate of $279.4 billion.
Educational construction was at a seasonally adjusted annual rate of $72.7 billion, 4.3 percent (±4.8%)* above the revised July estimate of $69.8 billion.
Highway construction was at a seasonally adjusted annual rate of $80.2 billion, 3.5 percent (±8.6%)* above the revised July estimate of $77.4 billion.
