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U.S. Commerce Dept. Reports Increase in New Construction to $787.2 Billion

The U.S. Census Bureau of the Department of Commerce estimated that construction spending during September 2011 hit a seasonally adjusted annual rate of $787.2 billion, 0.2 percent above the revised August estimate of $786 billion. The September figure is 1.3 below the Sept. 2010 estimate of $797.3 billion. During the first nine months of 2011, construction spending amounted to $580.9 billion, 3.5 percent below the $602 billion for the same period in 2010.

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