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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.