May 06, 2009 | Recommend this Article »

U.S Census Bureau News

March 2009 Construction at $969.7 Billion Annual Rate

The U.S. Census Bureau of the Department of Commerce announced on 4th of May that construction spending during March 2009 was estimated at a seasonally adjusted annual rate of $969.7 billion, 0.3 percent (±1.3%)* above the revised February estimate of $967.1 billion. The March figure is 11.1 percent (±1.6%) below the March 2008 estimate of $1,090.5 billion.

During the first 3 months of this year, construction spending amounted to $209.5 billion, 10.9 percent (±1.4%) below the $235.2 billion for the same period in 2008.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $661.0 billion, 0.1 percent (±1.4%)* below the revised February estimate of $661.6 billion. Residential construction was at a seasonally adjusted annual rate of $258.4 billion in March, 4.2 percent (±1.3%) below the revised February estimate of $269.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $402.6 billion in March, 2.7 percent (±1.4%) above the revised February estimate of $392.0 billion.

PUBLIC CONSTRUCTION
In March, the estimated seasonally adjusted annual rate of public construction spending was $308.7 billion, 1.1 percent (±1.9%)* above the revised February estimate of $305.4 billion. Educational construction was at a seasonally adjusted annual rate of $89.2 billion, 1.6 percent (±3.0%)* above the revised February estimate of $87.8 billion. Highway construction was at a seasonally adjusted annual rate of $76.2 billion, 0.8 percent (±7.2%)* below the revised February estimate of $76.8 billion.

April 2009 data will be released on June 1, 2009