Feb. 6, 2010
COMMERCE DEPT.: Dec. 2009 Construction Spending 10% Below Dec. 2008 at $902.5 Billion Annual Rate
2009 Construction Spending 12.4% Below 2008 levels
By David M. Kinchen
Huntingtonnews.net Real Estate Writer
Construction spending during December 2009 was estimated at a seasonally adjusted annual rate of $902.5 billion, 1.2 percent below the revised November estimate of $913.2 billion, according to a Friday, Feb. 5, 2010 report from the U.S. Census Bureau of the Department of Commerce. The December figure is 9.9 percent below the December 2008 estimate of $1,002.1 billion.
The value of construction in 2009 was $939.1 billion, 12.4 percent 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 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 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 above the revised November estimate of $331.8 billion.
The value of private construction in 2009 was $621.8 billion, 18.8 percent below the $766.2 billion spent in 2008. Residential construction in 2009 was $252.2 billion, 28.0 percent below the 2008 figure of $350.1 billion and nonresidential construction was $369.6 billion, 11.2 percent 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 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 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 below the revised November estimate of $85.7 billion.
The value of public construction in 2009 was $317.3 billion, 3.7 percent above the $306.0 billion spent in 2008. Educational construction in 2009 was $86.3 billion, 0.9 percent above the 2008 figure of $85.5 billion and highway construction was $84.6 billion, 3.7 percent above the $81.6 billion in 2008.
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COMMERCE DEPT.: Dec. 2009 Construction Spending 10% Below Dec. 2008 at $902.5 Billion Annual Rate
2009 Construction Spending 12.4% Below 2008 levels
By David M. Kinchen
Huntingtonnews.net Real Estate Writer
Construction spending during December 2009 was estimated at a seasonally adjusted annual rate of $902.5 billion, 1.2 percent below the revised November estimate of $913.2 billion, according to a Friday, Feb. 5, 2010 report from the U.S. Census Bureau of the Department of Commerce. The December figure is 9.9 percent below the December 2008 estimate of $1,002.1 billion.
The value of construction in 2009 was $939.1 billion, 12.4 percent 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 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 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 above the revised November estimate of $331.8 billion.
The value of private construction in 2009 was $621.8 billion, 18.8 percent below the $766.2 billion spent in 2008. Residential construction in 2009 was $252.2 billion, 28.0 percent below the 2008 figure of $350.1 billion and nonresidential construction was $369.6 billion, 11.2 percent 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 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 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 below the revised November estimate of $85.7 billion.
The value of public construction in 2009 was $317.3 billion, 3.7 percent above the $306.0 billion spent in 2008. Educational construction in 2009 was $86.3 billion, 0.9 percent above the 2008 figure of $85.5 billion and highway construction was $84.6 billion, 3.7 percent above the $81.6 billion in 2008.
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