Home > News > Industry News > Construction put in place edges up in August

Construction put in place edges up in August

Post Time:Nov 12,2013Classify:Industry NewsView:117

The value of construction put in place rose to $1.2 trillion in August, up 0.3 percent compared to July, and 4.4 percent over August 2005, according to an Oct. 2 report from the U.S. Census Bureau. While residential construction was down 5.1 percent compared to last August at $626 billion, nonresidential construction increased 2.3 percent in the month to $575 billion, up 17.1 percent from last year. Nonresidential sectors reporting the largest gains since August 2005 include lodging, up 64.4 percent from last year and 2.9 percent since July; office, up 22.4 percent since last year and 2.9 percent since July; and health care, up 12.6 percent since last year and 2.5 percent since July. Total private construction spending reached a seasonally adjusted rate of $929 billion, up 0.1 percent from July, with nonresidential private construction up 3.4 percent from July at $312 billion, according to the report. Public construction also rose in the month, up 9.7 percent from last year and 1.1 percent from July at $272 billion. Nonresidential public construction reached $263 billion in August, up 9.9 percent from 2005 and 1 percent from July.Share this article:

Source: http://www.glassmagazine.com/news-item/commercial/construction-put-place-edges-augustAuthor:

Hot News