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 September 2007 was estimated at a seasonally adjusted annual rate of $1,162.8 billion, 0.3 percent (±1.8%)* above the revised August estimate of $1,159.2 billion. The September figure is 0.8 percent (±2.2%)* below the September 2006 estimate of $1,172.1 billion. During the first 9 months of this year, construction spending amounted to $872.2 billion, 3.2 percent (±1.4%) below the $901.0 billion for the same period in 2006.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $869.0 billion, 0.2 percent (±1.1%)* below the revised August estimate of $871.0 billion. Residential construction was at a seasonally adjusted annual rate of $511.4 billion in September, 1.4 percent (±1.3%) below the revised August estimate of $518.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $357.7 billion in September, 1.5 percent (±1.1%) above the revised August estimate of $352.4 billion.

PUBLIC CONSTRUCTION

In September, the estimated seasonally adjusted annual rate of public construction spending was $293.8 billion, 1.9 percent (±2.7%)* above the revised August estimate of $288.2 billion. Educational construction was at a seasonally adjusted annual rate of $84.6 billion, 2.3 percent (±4.5%) above the revised August estimate of $82.7 billion. Highway construction was at a seasonally adjusted annual rate of $76.0 billion, 0.3 percent (±6.6%)* above the revised August estimate of $75.8 billion.


Available at:

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