EconoIndicators / Construction Spending

Construction Spending - August 2008

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Construction Spending At a Glance

Total Construction Spending: $1,072.1 billion
Monthly Change: None
Year-to-year Change: Down 5.9%
Private Residential Spending: $343.6 billion
Monthly Change: Up 0.3%
Private Non-residential: $416.0 billion
Monthly Change: Down 0.8%

AUGUST 2008 CONSTRUCTION AT $1,072.1 BILLION ANNUAL RATE
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during August
2008 was estimated at a seasonally adjusted annual rate of $1,072.1 billion, nearly the same as (±1.4%)* the revised July
estimate of $1,071.8 billion. The August figure is 5.9 percent (±1.9%) below the August 2007 estimate of $1,138.8
billion.
During the first 8 months of this year, construction spending amounted to $713.5 billion, 5.9 percent (±1.4%) below the
$758.1 billion for the same period in 2007.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $759.6 billion, 0.3 percent (±1.3%)* below
the revised July estimate of $761.8 billion. Residential construction was at a seasonally adjusted annual rate of $343.6
billion in August, 0.3 percent (±1.3%)* above the revised July estimate of $342.5 billion. Nonresidential construction was
at a seasonally adjusted annual rate of $416.0 billion in August, 0.8 percent (±1.3%)* below the revised July estimate of
$419.3 billion.
PUBLIC CONSTRUCTION
In August, the estimated seasonally adjusted annual rate of public construction spending was $312.5 billion, 0.8 percent
(±2.2%)* above the revised July estimate of $310.0 billion. Educational construction was at a seasonally adjusted annual
rate of $87.3 billion, 0.3 percent (±3.8%)* above the revised July estimate of $87.0 billion. Highway construction was at a
seasonally adjusted annual rate of $80.6 billion, 3.9 percent (±5.8%)* above the revised July estimate of $77.6 billion.