July Construction Spending at $958 Billion Annual Rate

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(News Source: U.S. Census Bureau)
 
(WASHINGTON, D.C.) -- The U.S. Census Bureau of the Department of Commerce announced today that construction spending during July 2009 was estimated at a seasonally adjusted annual rate of $958.0 billion, 0.2 percent (±1.6%)* below the revised June estimate of $959.5 billion. The July figure is 10.5 percent (±1.8%) below the July 2008 estimate of $1,070.2 billion. During the first 7 months of this year, construction spending amounted to $543.8 billion, 11.4 percent (±1.3%) below the $613.5 billion for the same period in 2008.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $630.4 billion, 0.1 percent (±1.0%)* above the revised June estimate of $629.6 billion. Residential construction was at a seasonally adjusted annual rate of $245.6 billion in July, 2.3 percent (±1.3%) above the revised June estimate of $240.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $384.9 billion in July, 1.2 percent (±1.0%) below the revised June estimate of $389.5 billion.

PUBLIC CONSTRUCTION

In July, the estimated seasonally adjusted annual rate of public construction spending was $327.6 billion, 0.7 percent (±2.6%)  below the revised June estimate of $329.9 billion. Educational construction was at a seasonally adjusted annual rate of $90.8 billion, 1.3 percent (±3.7%) below the revised June estimate of $92.0 billion. Highway construction was at a seasonally adjusted annual rate of $83.8 billion, 1.0 percent (±7.0%) below the revised June estimate of $84.7 billion.

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