Government Reports October 2009 Construction Now at $910.8 Billion Annual Rate

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(WASHINGTON, D.C.) -- The U.S. Census Bureau of the Department of Commerce announced today that construction spending during October 2009 was estimated at a seasonally adjusted annual rate of $910.8 billion, nearly the same as (±1.6%) the revised September estimate of $910.4 billion. The October figure is 14.4 percent (±1.6%) below the October 2008 estimate of $1,064.1 billion.

During the first 10 months of this year, construction spending amounted to $794.0 billion, 12.6 percent (±1.1%) below the $908.9 billion for the same period in 2008.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $589.0 billion, 0.3 percent (±1.1%) above the revised September estimate of $587.2 billion. Residential construction was at a seasonally adjusted annual rate of $250.3 billion in October, 4.4 percent (±1.3%) above the revised September estimate of $239.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $338.6 billion in October, 2.5 percent (±1.1%) below the revised September estimate of $347.5 billion.

PUBLIC CONSTRUCTION

In October, the estimated seasonally adjusted annual rate of public construction spending was $321.8 billion, 0.4 percent (±2.4%) below the revised September estimate of $323.2 billion. Educational construction was at a seasonally adjusted annual rate of $85.7 billion, 1.1 percent (±2.9%) above the revised September estimate of $84.7 billion. Highway construction was at a seasonally adjusted annual rate of $87.2 billion, 0.3 percent (±6.6%) below the revised September estimate of $87.4 billion.

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