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SEPTEMBER 1997 CONSTRUCTION
AT $595.8 BILLION ANNUAL RATE
Construction put in place during September 1997 was estimated at a seasonally adjusted annual rate of $595.8 billion, 1 (+/—5) percent below the revised August estimate of $602.3 billion, according to the U.S. Commerce Department's Bureau of the Census. The September figure represents a 3 (+/—5) percent increase over September 1996.
During the first 9 months of this year $443.8 billion of construction was put in place, 6 percent above the $419.9 billion for the same period in 1996.
In constant (1992) dollars, the September annual rate was $502.9 billion, 1 (+/—5) percent below the revised estimate of $509.3 billion for August.
Private Construction
Spending on new residential housing units was at a seasonally adjusted annual rate of $185.5 billion in September, 1 (+/—2) percent above the revised August estimate of $183.9 billion. Nonresidential building construction was at a rate of $155.8 billion, 5 percent below the revised August estimate of $164.1 billion.
Public Construction
In September, the estimated seasonally adjusted annual rate of public construction put in place was $137.8 billion, nearly the same (+/—5 percent) as the revised August estimate of $138.2 billion.
Value Of New Construction Put In Place
In The United States, Seasonally Adjusted
Annual Rate (Billions of Dollars)
(Current Dollars With 1992 Dollars Below)
Sep 97(p) Aug 97(r) Sep 96(r) Total new construction 595.8 602.3 580.0 502.9 509.3 499.6 Private construction- X 458.0 464.1 444.4 385.8 391.8 381.5 Residential buildings- Y 262.2 259.7 249.0 219.2 217.8 212.1 Nonresidential buildings 155.8 164.1 153.5 132.1 139.2 132.9 Public construction 137.8 138.2 135.6 117.1 117.5 118.1
(p)–Preliminary.
(r)–Revised.
X–Includes the following categories of private construction not shown separately: residential improvements, railroads, electric light and power, gas, petroleum pipelines, and farm nonresidential.
Y–Includes improvements.
November 3, 1997 U.S. Department of Commerce
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