According to a report released by the U.S. Census Bureau on Monday, the value of total construction put in place during September was estimated at a seasonally adjusted annual rate of $1,013.9 billion, nearly unchanged from the revised August estimate of $1,014.0 billion. This represents an increase of 8.9 percent compared with the September 2003 estimate of $930.8 billion. September 2004 was the second straight month where the projected rate of spending topped $1 trillion.
The report also estimated spending on private construction, including residential and non-residential construction, at a seasonally adjusted annual rate of $777.5 billion, 0.1 percent below the revised August estimate. Total spending on private residential construction was estimated at $551.6 billion.
Spending on total public construction was estimated at a seasonally adjusted annual rate of $236.4 billion. Public residential construction spending was $8.34 billion, roughly even with the August 2004 rate and 18.5 percent above the September 2003 rate.
Posted by gandlwoods at November 4, 2004 07:38 AM