October 3, 2011
Construction Spending Up In August
U.S. spending on construction in August totaled a seasonally adjusted $799.1 billion, a 1.4-percent increase after a particularly low July number, according to the U.S. Census Bureau and the Department of Commerce.
The August figure is also 0.9 percent above the total for the same month in 2010.
Altogether, spending for the first eight months of 2011 totaled $511.4 billion, a drop of 3 percent from the same period last year.
Private residential construction rose 0.7 percent month-over-month to $237.8 billion, while private nonresidential construction was up 0.2 percent to $273.1 billion. Public construction rose 3 percent to $288.2 billion.
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