Construction Spending – September 2008

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Construction Spending At a Glance

Total Construction Spending: $1,060.1 billion billion
Monthly Change: Down 0.3%
Year-to-year Change: Down 6.6%
Private Residential Spending: $336.5 billion
Monthly Change: Down 1.3%
Private Non-residential: $415.2 billion
Monthly Change: Up 1.2%

SEPTEMBER 2008 CONSTRUCTION AT $1,060.1 BILLION ANNUAL RATE
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during September
2008 was estimated at a seasonally adjusted annual rate of $1,060.1 billion, 0.3 percent (±1.6%)* below the revised
August estimate of $1,063.5 billion. The September figure is 6.6 percent (±2.1%) below the September 2007 estimate of
$1,134.9 billion.
During the first 9 months of this year, construction spending amounted to $807.3 billion, 6.2 percent (±1.4%) below the
$860.5 billion for the same period in 2007.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $751.7 billion, 0.1 percent (±1.3%)* above
the revised August estimate of $751.1 billion. Residential construction was at a seasonally adjusted annual rate of $336.5
billion in September, 1.3 percent (±1.3%) below the revised August estimate of $340.8 billion. Nonresidential
construction was at a seasonally adjusted annual rate of $415.2 billion in September, 1.2 percent (±1.3%)* above the
revised August estimate of $410.3 billion.
PUBLIC CONSTRUCTION
In September, the estimated seasonally adjusted annual rate of public construction spending was $308.4 billion, 1.3
percent (±2.4%)* below the revised August estimate of $312.4 billion. Educational construction was at a seasonally
adjusted annual rate of $86.5 billion, 0.3 percent (±3.4%)* below the revised August estimate of $86.7 billion. Highway
construction was at a seasonally adjusted annual rate of $79.9 billion, 1.5 percent (±6.1%)* below the revised August
estimate of $81.2 billion.