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AUGUST 1997 CONSTRUCTION
AT $601.8 BILLION ANNUAL RATE
Construction put in place during August 1997 was estimated at a seasonally adjusted annual rate of $601.8 billion, nearly the same (+/—5 percent) as the revised July estimate of $603.7 billion, according to the U.S. Commerce Department's Bureau of the Census. The August figure represents a 5 (+/—5) percent increase over August 1996.
During the first 8 months of this year $387.3 billion of construction was put in place, 6 percent above the $365.1 billion for the same period in 1996.
In constant (1992) dollars, the August annual rate was $508.3 billion, nearly the same (+/—5 percent) as the revised estimate of $509.9 billion for July.
Private Construction
Spending on new residential housing units was at a seasonally adjusted annual rate of $183.2 billion in August, the same (+/—2 percent) as the revised July estimate. Nonresidential building construction was at a rate of $163.9 billion, 1 (+/—3) percent below the revised July estimate of $165.3 billion.
Public Construction
In August, the estimated seasonally adjusted annual rate of public construction put in place was $137.6 billion, 1 (+/—5) percent below the revised July estimate of $139.0 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)
Aug 97(p) Jul 97(r) Jun 96(r) Total new construction 601.8 603.7 594.2 508.3 509.9 502.3 Private construction-X 464.2 464.7 456.9 391.4 391.9 385.8 Residential buildings-Y 260.0 259.4 257.3 217.7 217.5 216.2 Nonresidential buildings 163.9 165.3 159.2 138.9 140.0 134.8 Public construction 137.6 139.0 137.3 116.9 118.0 116.5
(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.
October 1, 1997U.S. Department of Commerce
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