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September Construction Spending Sees Slight Increase11-10-05 | News
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September Construction Spending Sees Slight Increase

WASHINGTON D.C. ?EUR??,,????'??+ Construction spending during September 2005 was estimated at a seasonally adjusted annual rate of $1.120 billion, according to a report from the Commerce Department. This rate is 0.5 percent above the revised August estimate of $1.114 billion. In addition, the September 2005 figure is 6.8 percent above the same period last year.

Spending on private construction was at a seasonally adjusted annual rate of $871.5 billion, 0.6 percent above the revised August estimate of $866.1 billion. Residential construction was at a seasonally adjusted annual rate of $624.3 billion for the month, while nonresidential construction was at a seasonally adjusted annual rate of $247.2 billion.

Public construction spending in September totaled $248.5 billion, nearly the same as the revised August estimate. Educational construction was at a seasonally adjusted annual rate of $64.9 billion, 1.3 percent above the revised August estimate of $64.1 billion. Highway construction was at a seasonally adjusted annual rate of $67.1 billion, 0.9 percent below the revised August figure of $67.6 billion.

During the first nine months of this year, construction spending amounted to a non-seasonally adjusted $827.6 billion, 8.8 percent above the $760.9 billion for the same period in 2004.

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