The U.S. Census Bureau reported that construction spending during August 2009 was estimated at a seasonally adjusted annual rate of $941.9 billion, 0.8 percent above the revised July estimate of $934.6 billion. The August figure is 11.6 percent below the August 2008 estimate of $1,066.1 billion. During the first eight months of this year, construction spending amounted to $629.5 billion, 11.9 percent below the $714.3 billion for the same period in 2008.
Private construction. Spending on private construction was at a seasonally adjusted annual rate of $622.1 billion, 1.8 percent above the revised July estimate of $611.1 billion. Residential construction was at a seasonally adjusted annual rate of $249.5 billion in August, 4.7 percent above the revised July estimate of $238.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $372.6 billion in August, 0.1 percent below the revised July estimate of $372.8 billion.
Public construction. In August, the estimated seasonally adjusted annual rate of public construction spending was $319.8 billion, 1.1 percent below the revised July estimate of $323.5 billion. Educational construction was at a seasonally adjusted annual rate of $89.2 billion, nearly the same as the revised July estimate of $89.3 billion.
Building permits. Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 579,000. This is 2.7 percent above the revised July rate of 564,000, but 32.4 percent below the August 2008 estimate of 857,000.