Highway spending takes a fall

Construction spending overall still lags 12% behind last year

News U.S. Commerce Department September 02, 2010
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Construction spending during July was estimated by the U.S. Commerce Department at a seasonally adjusted annual rate of $805.2 billion, 1.0% below the revised June estimate of $813.1 billion. The July figure is 10.7% below the July 2009 estimate of $901.2 billion.

During the first seven months of this year, construction spending amounted to $460.3 billion, 11.8% below the $522.0 billion for the same period in 2009.

In July, the estimated seasonally adjusted annual rate of public construction spending was $298.8 billion, 1.2% below the revised June estimate of $302.4 billion.

Highway construction was at a seasonally adjusted annual rate of $76.8 billion, 2.9% below the revised June estimate of $79.1 billion.

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