WORLD PROPERTY CHANNEL ®

Based on the most recent data from the U.S. Census Bureau of the Department of Commerce, construction spending in the U.S. during September 2011 was estimated at a seasonally adjusted annual rate of $787.2 billion, 0.2 percent (±1.8%) above the revised August estimate of $786.0 billion. The September figure is 1.3 percent (±1.9%) below the September 2010 estimate of $797.3 billion.

During the first 9 months of this year, construction spending amounted to $580.9 billion, 3.5 percent (±1.3%) below the $602.0 billion for the same period in 2010.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $501.8 billion, 0.6 percent (±1.1%) above the revised August estimate of $499.0 billion. Residential construction was at a seasonally adjusted annual rate of $228.3 billion in September, 0.9 percent (±1.3%) above the revised August estimate of $226.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $273.5 billion in September, 0.3 percent (±1.1%)* above the revised August estimate of $272.8 billion.

Public Construction

In September, the estimated seasonally adjusted annual rate of public construction spending was $285.4 billion, 0.6 percent (±2.6%) below the revised August estimate of $287.0 billion. Educational construction was at a seasonally adjusted annual rate of $73.3 billion, 0.9 percent (±3.5%) below the revised August estimate of $73.9 billion. Highway construction was at a seasonally adjusted annual rate of $80.3 billion, 1.4 percent (±6.4%) above the revised August estimate of $79.2 billion.

---