September 2011 Construction at $787.2 Billion Annual Rate

The U.S. Census Bureau of the Department of Commerce announced today that construction spending during September 2011 was estimated at a seasonally adjusted annual rate of $787.2 billion, 0.2 percent (±1.8 percent) above the revised August estimate of $786.0 billion. The September figure is 1.3 percent (±1.9 percent) below the September 2010 estimate of $797.3 billion.

During the first 9 months of this year, construction spending amounted to $580.9 billion, 3.5 percent (±1.3 percent) below the $602.0 billion for the same period in 2010.

Spending on private construction was at a seasonally adjusted annual rate of $501.8 billion, 0.6 percent (±1.1 percent) above the revised August estimate of $499.0 billion. Residential construction was at a seasonally adjusted annual rate of $228.3 billion in September, 0.9 percent (±1.3 percent) above the revised August estimate of $226.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $273.5 billion in September, 0.3 percent (±1.1 percent) above the revised August estimate of $272.8 billion.

In September, the estimated seasonally adjusted annual rate of public construction spending was $285.4 billion, 0.6 percent (±2.6 percent) below the revised August estimate of $287.0 billion. Educational construction was at a seasonally adjusted annual rate of $73.3 billion, 0.9 percent (±3.5 percent) below the revised August estimate of $73.9 billion. Highway construction was at a seasonally adjusted annual rate of $80.3 billion, 1.4 percent (±6.4 percent)* above the revised August estimate of $79.2 billion.

In reference to all the percentages used here, 90 percent confidence interval includes zero. The U.S. Census Bureau does not have sufficient statistical evidence to conclude that the actual change is different from zero.