The following is the unedited transcript of the news release from the Department of Commerce.


The U.S. Census Bureau of the Department of Commerce announced today that construction spending during October 2006 was estimated at a seasonally adjusted annual rate of $1,178.4 billion, 1.0% below the revised September estimate of $1,190.0 billion. The October figure is 0.5% above the October 2005 estimate of $1,172.6 billion. During the first 10 months of this year, construction spending amounted to $1,008.4 billion, 5.9% above the $952.5 billion for the same period in 2005.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $905.3 billion, 1.5% below the revised September estimate of $919.0 billion. Residential construction was at a seasonally adjusted annual rate of $597.1 billion in October, 1.9% below the revised September estimate of $608.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $308.2 billion in October, 0.7% below the revised September estimate of $310.2 billion.

PUBLIC CONSTRUCTION

In October, the estimated seasonally adjusted annual rate of public construction spending was $273.1 billion, 0.8% above the revised September estimate of $271.0 billion. Educational construction was at a seasonally adjusted annual rate of $70.7 billion, 0.2% above the revised September estimate of $70.6 billion. Highway construction was at a seasonally adjusted annual rate of $76.2 billion, 0.3% above the revised September estimate of $76.0 billion.


Available at:

http://www.census.gov/const/C30/release.pdf