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U.S. Construction inches up in September

But remains 10 percent off from Sept. 09.

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The U.S. Census Bureau of the Department of Commerce announced today that construction spending during September 2010 was estimated at a seasonally adjusted annual rate of $801.7 billion, 0.5 percent (±1.9%)* above the revised August
estimate of $797.5 billion. The September figure is 10.4 percent (±1.9%) below the September 2009 estimate of $894.8 billion.

During the first 9 months of this year, construction spending amounted to $612.6 billion, 11.2 percent (±1.0%) below the $689.9 billion for the same period in 2009.

PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $482.0 billion, nearly the same as (±1.1%)* the revised August estimate of $481.9 billion.

Residential construction was at a seasonally adjusted annual rate of $231.7 billion in September, 1.8 percent (±1.3%) above the revised August estimate of $227.7 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $250.3 billion in September, 1.6 percent (±1.1%) below the revised August estimate of $254.3 billion.

PUBLIC CONSTRUCTION
In September, the estimated seasonally adjusted annual rate of public construction spending was $319.7 billion, 1.3 percent (±2.6%)* above the revised August estimate of $315.5 billion.

Educational construction was at a seasonally adjusted annual rate of $78.1 billion, 1.6 percent (±3.5%)* above the revised August estimate of $76.9 billion.

Highway construction was at a seasonally adjusted annual rate of $84.9 billion, 0.1 percent (±7.0%)* below the revised August estimate of $85.0 billion.