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U.S. construction activity dips in September

But residential and schools still trend up for month.


The U.S. Census Bureau of the Department of Commerce announced today that construction spending during September 2014 was estimated at a seasonally adjusted annual rate of $950.9 billion, 0.4 percent (±2.0%)* below the revised August estimate of $955.2 billion. The September figure is 2.9 percent (±2.1%) above the September 2013 estimate of $924.2 billion.

During the first 9 months of this year, construction spending amounted to $710.1 billion, 6.1 percent (±1.3%) above the $669.3 billion for the same period in 2013.

PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $680.0 billion, 0.1 percent (±1.0%)* below the revised August estimate of $680.8 billion.

Residential construction was at a seasonally adjusted annual rate of $349.1 billion in September, 0.4 percent (±1.3%)* above the revised August estimate of $347.7 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $331.0 billion in September, 0.6 percent (±1.0%)* below the revised August estimate of $333.0 billion.

PUBLIC CONSTRUCTION
In September, the estimated seasonally adjusted annual rate of public construction spending was $270.9 billion, 1.3 percent (±3.1%)* below the revised August estimate of $274.4 billion.

Educational construction was at a seasonally adjusted annual rate of $62.8 billion, 0.1 percent (±5.3%)* above the revised August estimate of $62.8 billion.

Highway construction was at a seasonally adjusted annual rate of $79.9 billion, 3.7 percent (±6.9%)* below the revised August estimate of $82.9 billion.

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