Construction Spending - October 2008

Economic At a Glance Logo
Construction Spending At a Glance

Total Construction Spending: $1,072.6 billion
Monthly Change: Down 1.2%
Year-to-year Change: Down 4.7%
Private Residential Spending: $338.8 billion
Monthly Change: Down 3.5%
Private Non-residential: $417.7 billion
Monthly Change: Down 0.7%

OCTOBER 2008 CONSTRUCTION AT $1,072.6 BILLION ANNUAL RATE
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during October
2008 was estimated at a seasonally adjusted annual rate of $1,072.6 billion, 1.2 percent (±1.4%)* below the revised
September estimate of $1,085.7 billion. The October figure is 4.6 percent (±1.9%) below the October 2007 estimate of
$1,124.2 billion.
During the first 10 months of this year, construction spending amounted to $906.3 billion, 5.7 percent (±1.4%) below the
$960.9 billion for the same period in 2007.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $756.5 billion, 2.0 percent (±1.1%) below the
revised September estimate of $771.9 billion. Residential construction was at a seasonally adjusted annual rate of $338.8
billion in October, 3.5 percent (±1.3%) below the revised September estimate of $351.2 billion. Nonresidential
construction was at a seasonally adjusted annual rate of $417.7 billion in October, 0.7 percent (±1.1%)* below the revised
September estimate of $420.6 billion.
PUBLIC CONSTRUCTION
In October, the estimated seasonally adjusted annual rate of public construction spending was $316.1 billion, 0.7 percent
(±2.2%)* above the revised September estimate of $313.8 billion. Educational construction was at a seasonally adjusted
annual rate of $88.0 billion, 1.2 percent (±2.9%)* above the revised September estimate of $86.9 billion. Highway
construction was at a seasonally adjusted annual rate of $81.8 billion, 0.9 percent (±5.9%)* below the revised September
estimate of $82.5 billion.