Construction spending during September 2006 was estimated at a seasonally adjusted annual rate of $1,195.9 billion, 0.3 percent below the revised August estimate of $1,200.0 billion. The September figure is 2.9 percent above the September 2005 estimate of $1,162.1 billion. During the first 9 months of this year, construction spending amounted to $903.2 billion, 6.6 percent above the $847.1 billion for the same period in 2005.

 

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $922.7 billion, 0.7 percent below the revised August estimate of $929.4 billion. Residential construction was at a seasonally adjusted annual rate of $610 billion in September, 1.1 percent below the revised August estimate of $617.0 billion. Nonresidential construction was at a seasonally adjusted annual rate of $312.7 billion in September, 0.1 percent above the revised August estimate of $312.3 billion.

 

PUBLIC CONSTRUCTION

In September, the estimated seasonally adjusted annual rate of public construction spending was $273.2 billion, 0.9 percent above the revised August estimate of $270.7 billion. Educational construction was at a seasonally adjusted annual rate of $72.6 billion, 3.0 percent above the revised August estimate of $70.5 billion. Highway construction was at a seasonally adjusted annual rate of $74.7 billion, 1.7 percent below the revised August estimate of $75.9 billion.

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More economic indicators at MDM’s Databank.

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