Construction spending during September 2009 was estimated at a seasonally adjusted annual rate of $940.3 billion, 0.8% above the revised August estimate of $933 billion and 13% below the September 2008 estimate of $1,081.2 billion. During the first nine months of 2009, construction spending reached $715.2 billion, 12.1% below the $813.3 billion for the same period in 2008.
Residential spending gained some ground, increasing from about $254.2 billion in August 2009 to $264.1 billion in September 2009, a 3.8% increase, but is still 26% off from September 2008, when spending was estimated at $358.2 billion.
Nonresidential construction decreased marginally in August. Private nonresidential construction continued declining, decreasing from $364.5 billion in August to $357.9 billion in September, a 1.8% decrease and a 15.4% decline from September 2009. Public nonresidential construction increased slightly (1.3%) to $318.3 billion, 6.1% above September 2008.
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