Industry News

Real estate construction spending climbs

Activity remains on pace to top $1 trillion this year
Published on Oct 3, 2005

Construction spending during August 2005 was estimated at a seasonally adjusted annual rate of about $1.11 trillion, which is 0.4 percent above the revised July estimate and 6.1 percent above the August 2004 estimate, the U.S. Census Bureau reported today. During the first eight months of this year, construction spending amounted to about $723.7 billion, or 9 percent above the construction spending amount for the same period in 2004. The seasonally adjusted annual rate projects a monthly total over a 12-month period, factoring in seasonal fluctuations in construction spending. Spending on private construction was at a seasonally adjusted annual rate of about $858.4 billion, which is 0.4 percent above the revised July estimate. Private residential construction was at a seasonally adjusted annual rate of about $614.6 billion in August, or 0.2 percent above the revised July estimate and 5.9 percent above the August 2004 rate. Nonresidential construction was at a seasonally a...

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