Nov
03

September Construction Spending Up 2.9% Over Year Ago

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The U.S. Census Bureau of the Department of Commerce announced today that construction spending during September 2014 was estimated at a seasonally adjusted annual rate of $950.9 billion, 0.4 percent (±2.0%)* below the revised August estimate of $955.2 billion. The September figure is 2.9 percent (±2.1%) above the September 2013 estimate of $924.2 billion. During the first 9 months of this year, construction spending amounted to $710.1 billion, 6.1 percent (±1.3%) above the $669.3 billion for the same period in 2013.

PRIVATE CONSTRUCTION Spending on private construction was at a seasonally adjusted annual rate of $680.0 billion, 0.1 percent (±1.0%)* below the revised August estimate of $680.8 billion. Residential construction was at a seasonally adjusted annual rate of $349.1 billion in September, 0.4 percent (±1.3%)* above the revised August estimate of $347.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $331.0 billion in September, 0.6 percent (±1.0%)* below the revised August estimate of $333.0 billion.

PUBLIC CONSTRUCTION In September, the estimated seasonally adjusted annual rate of public construction spending was $270.9 billion, 1.3 percent (±3.1%)* below the revised August estimate of $274.4 billion. Educational construction was at a seasonally adjusted annual rate of $62.8 billion, 0.1 percent (±5.3%)* above the revised August estimate of $62.8 billion. Highway construction was at a seasonally adjusted annual rate of $79.9 billion, 3.7 percent (±6.9%)* below the revised August estimate of $82.9 billion.

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