The U.S. Census Bureau of the Department of Commerce has announced that construction spending during September was estimated at a seasonally adjusted annual rate of $851.6 billion, 0.6% above the revised August estimate of $846.2 billion. The September figure is 7.8% above the September 2011 estimate of $790.3 billion.
During the first 9 months of this year, construction spending amounted to $624.8 billion, 8.9% above the $573.7 billion for the same period in 2011.
Spending on private construction was at a seasonally adjusted annual rate of $580.5 billion, 1.3% above the revised August estimate of $572.8 billion. Residential construction was at a seasonally adjusted annual rate of $285.9 billion in September, 2.8% above the revised August estimate of $278 billion. Nonresidential construction was at a seasonally adjusted annual rate of $294.6 billion in September, 0.1% below the revised August estimate of $294.8 billion.
In September, the estimated seasonally adjusted annual rate of public construction spending was $271.1 billion, 0.8% below the revised August estimate of $273.4 billion. Educational construction was at a seasonally adjusted annual rate of $66.7 billion, 0.8% below the revised August estimate of $67.2 billion.
