The US Census Bureau of the Department of Commerce announced Monday that construction spending during September 2010 was estimated at a seasonally adjusted annual rate of $801.7 billion, 0.5 percent (±1.9 percent) above the revised August estimate of $797.5 billion. The September figure is 10.4 percent (±1.9 percent) below the September 2009 estimate of $894.8 billion.
During the first nine months of this year, construction spending amounted to $612.6 billion, 11.2 percent (±1 percent) below the $689.9 billion for the same period in 2009.
Spending on private construction was at a seasonally adjusted annual rate of $482.0 billion, nearly the same as the revised August estimate of $481.9 billion (±1.1 percent). Residential construction was at a seasonally adjusted annual rate of $231.7 billion in September, 1.8 percent (±1.3 percent) above the revised August estimate of $227.7 billion, and nonresidential construction was at a seasonally adjusted annual rate of $250.3 billion in September, 1.6 percent (±1.1 percent) below the revised August estimate of $254.3 billion.
In September, the estimated seasonally adjusted annual rate of public construction spending was $319.7 billion, 1.3 percent (±2.6 percent) above the revised August estimate of $315.5 billion. Nonresidential construction was up 1.3 percent month-over-month, and up 0.7 percent year-over-year.