Rock Products - The Leading Voice of the Aggregate Industries.

Construction Spending Rises in August


The U.S. Census Bureau of the Department of Commerce reported that construction spending during August 2011 was estimated at a seasonally adjusted annual rate of $799.1 billion, 1.4 percent above the revised July estimate of $788.3 billion. The August figure is 0.9 percent 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 below the $527.3 billion for the same period in 2010.

In August, the estimated seasonally adjusted annual rate of public construction spending was $288.2 billion, 3.1 percent above the revised July estimate of $279.4 billion.

Highway construction was at a seasonally adjusted annual rate of $80.2 billion, 3.5 percent above the revised July estimate of $77.4 billion. Educational construction was at a seasonally adjusted annual rate of $72.7 billion, 4.3 percent above the revised July estimate of $69.8 billion.

Spending on private construction was at a seasonally adjusted annual rate of $511.0 billion, 0.4 percent 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 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 above the revised July estimate of $272.6 billion.