December 2009 Construction at $902.5 Billion Annual Rate
Rate is 1.2 percent from November and 9.9 percent below December 2008.
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during December 2009 was estimated at a seasonally adjusted annual rate of $902.5 billion, 1.2 percent (±1.3%)* below the revised November estimate of $913.2 billion. The December figure is 9.9 percent (±1.4%) below the December 2008 estimate of $1,002.1 billion.
The value of construction in 2009 was $939.1 billion, 12.4 percent (±1.1%) below the $1,072.1 billion spent in 2008.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $593.0 billion, 1.2 percent (±1.1%) below the revised November estimate of $599.9 billion.
Residential construction was at a seasonally adjusted annual rate of $260.4 billion in December, 2.8 percent (±1.3%) below the revised November estimate of $268.1 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $332.5 billion in December, 0.2 percent (±1.1%)* above the revised November estimate of $331.8 billion.
The value of private construction in 2009 was $621.8 billion, 18.8 percent (±1.3%) below the $766.2 billion spent in 2008.
Residential construction in 2009 was $252.2 billion, 28.0 percent (±2.1%) below the 2008 figure of $350.1 billion and nonresidential construction was $369.6 billion, 11.2 percent (±1.3%) below the $416.1 billion in 2008.
PUBLIC CONSTRUCTION
In December, the estimated seasonally adjusted annual rate of public construction spending was $309.6 billion, 1.2 percent (±1.9%)* below the revised November estimate of $313.3 billion.
Educational construction was at a seasonally adjusted annual rate of $80.3 billion, 0.4 percent (±2.9%)* below the revised November estimate of $80.6 billion.
Highway construction was at a seasonally adjusted annual rate of $83.7 billion, 2.3 percent (±4.8%)* below the revised November estimate of $85.7 billion.
The value of public construction in 2009 was $317.3 billion, 3.7 percent (±1.6%) above the $306.0 billion spent in 2008.
Educational construction in 2009 was $86.3 billion, 0.9 percent (±3.2%)* above the 2008 figure of $85.5 billion and highway construction was $84.6 billion, 3.7 percent (±3.5%) above the $81.6 billion in 2008.
CONTRACTOR SUPPLY MAGAZINE
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