STEEL FRAMING ALLIANCE | FRAMEWORK ONLINE
November 4, 2009
MARKETPLACE
 
September Construction Spending Rises Slightly Over Initial Estimates

The U.S. Census Bureau of the Department of Commerce announced today that construction spending during September 2009 was estimated at a seasonally adjusted annual rate of $940.3 billion, 0.8 percent (±1.8%)* above the revised August estimate of $933.0 billion. The September figure is 13.0 percent (±1.9%) below the September 2008 estimate of $1,081.2 billion.

During the first 9 months of this year, construction spending amounted to $715.2 billion, 12.1 percent (±1.3%) below the $813.3 billion for the same period in 2008.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $613.9 billion, 0.5 percent (±1.1%)* above the revised August estimate of $610.9 billion. Residential construction was at a seasonally adjusted annual rate of $256.0 billion in September, 3.9 percent (±1.3%) above the revised August estimate of $246.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $357.9 billion in September, 1.8 percent (±1.1%) below the revised August estimate of $364.5 billion.

Public Construction
In September, the estimated seasonally adjusted annual rate of public construction spending was $326.4 billion, 1.3 percent (±2.9%)* above the revised August estimate of $322.1 billion. Educational construction was at a seasonally adjusted annual rate of $88.7 billion, 0.1 percent (±3.4%)* below the revised August estimate of $88.8 billion. Highway construction was at a seasonally adjusted annual rate of $85.5 billion, 1.0 percent (±7.8%)* above the revised August estimate of $84.6 billion.

Source: U.S. Census Bureau, November 2, 2009

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Brought to you by the Steel Framing Alliance (SFA) on the first Wednesday of each month, Framework Online arms you with the latest news and commentary on the steel framing and construction industries. In addition to industry headlines, trends and project profiles, Framework Online provides information and ideas that will better enable members to increase their participation in the residential and commercial construction markets.