August construction spending above revised July estimate

The U.S. Census Bureau of the Department of Commerce announced construction spending during August 2013 was estimated at a seasonally adjusted annual rate of $915.1 billion, 0.6 percent (±2.1 percent) above the revised July estimate of $909.4 billion. The August figure is 7.1 percent (±2.3 percent) above the August 2012 estimate of $854.0 billion. 

During the first 8 months of this year, construction spending amounted to $581.9 billion, 5.9 percent (±1.5 percent) above the $549.4 billion for the same period in 2012.

Spending on private construction was at a seasonally adjusted annual rate of $640.5 billion, 0.7 percent (±1.2 percent) above the revised July estimate of $636.1 billion. Residential construction was at a seasonally adjusted annual rate of $340.2 billion in August, 1.2 percent (±1.3 percent) above the revised July estimate of $336.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $300.3 billion in August, 0.1 percent (±1.2 percent) above the revised July estimate of $299.9 billion.

In August, the estimated seasonally adjusted annual rate of public construction spending was $274.5 billion, 0.4 percent (±3.3 percent) above the revised July estimate of $273.4 billion. Educational construction was at a seasonally adjusted annual rate of $63.8 billion, 1.3 percent (±5.9 percent) below the revised July estimate of $64.6 billion. Highway construction was at a seasonally adjusted annual rate of $80.6 billion, 0.1 percent (±7.4 percent) above the revised July estimate of $80.5 billion. 

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