Check out our 2024 Corporate Sustainability Report!

U.S. Census Reports Construction Spending

The U.S. Census Bureau of the Department of Commerce recently announced that construction spending during February 2009 was estimated at a seasonally adjusted annual rate of $967.5 billion, 0.9 percent below the revised January estimate of $976.2 billion. The February figure is 10 percent below the February 2008 estimate of $1,075.3 billion. During the first two months of this year, construction spending amounted to $135.5 billion, 10.9 percent below the $152 billion for the same period in 2008.

Spending on private construction was at a seasonally adjusted annual rate of $665.9 billion, 1.6 percent below the revised January estimate of $676.9 billion. Residential construction was at a seasonally adjusted annual rate of $275.1 billion in February, 4.3 percent below the revised January estimate of $287.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $390.7 billion in February, 0.3 percent above the revised January estimate of $389.5 billion.

In February, the estimated seasonally adjusted annual rate of public construction spending was $301.7 billion, 0.8 percent above the revised January estimate of $299.2 billion. Educational construction was at a seasonally adjusted annual rate of $86.9 billion, 1.7 percent above the revised January estimate of $85.5 billion. Highway construction was at a seasonally adjusted annual rate of $77.7 billion, 0.5 percent below the revised January estimate of $78 billion.

March 2009 data will be released on May 4, 2009, at 10:00 a.m. EDT. For detailed data, visit http://www.census.gov/constructionspending.

Catalyst

Lift & Access is part of the Catalyst Communications Network publication family.