Construction spending up slightly in September

Construction spending during September was estimated by the U.S. Commerce Department at a seasonally adjusted annual rate of $940.3 billion, 0.8% above the revised August estimate of $933.0 billion. The September figure is 13% below the September 2008 estimate of $1,081.2 billion.

During the first nine months of this year, construction spending amounted to $715.2 billion, 12.1% below the $813.3 billion for the same period in 2008.

Public construction spending edged up in September to $326.4 billion, 1.3% above the revised August estimate of $322.1 billion. Highway construction was at a seasonally adjusted annual rate of $85.5 billion, 1.0% above the revised August estimate of $84.6 billion.