Construction Spending Up 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. 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.