SEPTEMBER 2014 CONSTRUCTION AT $950.9 BILLION ANNUAL RATE
The U.S. Census
Bureau of the Department of Commerce announced today that construction spending
during September 2014 was estimated at a seasonally adjusted annual rate of
$950.9 billion, 0.4 percent (±2.0%)* below the revised August estimate of
$955.2 billion. The September figure is 2.9 percent (±2.1%) above the September
2013 estimate of $924.2 billion.
During the first 9
months of this year, construction spending amounted to $710.1 billion, 6.1
percent (±1.3%) above the $669.3 billion for the same period in 2013.
|
Seasonally Adjusted Annual Rate
|
|
Not Seasonally Adjusted
|
|||||
|
|
(millions of dollars)
|
|
(millions of dollars)
|
||||
|
Total
|
950,920
|
|
88,251
|
||||
|
Private
|
680,032
|
|
61,125
|
||||
|
Residential
|
349,075
|
|
32,365
|
||||
|
Nonresidential
|
330,957
|
|
28,760
|
||||
|
Public
|
270,888
|
|
27,127
|
||||
|
State and Local
|
248,896
|
|
24,607
|
||||
|
Federal
|
21,992
|
|
2,520
|
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PRIVATE
CONSTRUCTION
Spending on
private construction was at a seasonally adjusted annual rate of $680.0
billion, 0.1 percent (±1.0%)* below the revised August estimate of $680.8
billion. Residential construction was at a seasonally adjusted annual rate
of $349.1 billion in September, 0.4 percent (±1.3%)* above the revised August
estimate of $347.7 billion. Nonresidential construction was at a seasonally
adjusted annual rate of $331.0 billion in September, 0.6 percent (±1.0%)* below
the revised August estimate of $333.0 billion.
PUBLIC
CONSTRUCTION
In September, the
estimated seasonally adjusted annual rate of public construction spending was
$270.9 billion, 1.3 percent (±3.1%)* below the revised August estimate of
$274.4 billion. Educational construction was at a seasonally adjusted
annual rate of $62.8 billion, 0.1 percent (±5.3%)* above the revised August
estimate of $62.8 billion. Highway construction was at a seasonally adjusted
annual rate of $79.9 billion, 3.7 percent (±6.9%)* below the revised August
estimate of $82.9 billion.
EXPLANATORY NOTES
In interpreting changes in the statistics in this
release, note that month-to-month changes in seasonally adjusted statistics
often show movements which may be irregular. It may take 2 months to establish
an underlying trend for total construction and as long as 8 months for specific
categories of construction. The
statistics in this release are estimated from several sources and surveys and
are subject to sampling variability as well as nonsampling error including bias
and variance from response, nonreporting, and undercoverage. Estimates of the
standard errors are provided in Table 3. Whenever a statement such as "2.3
(±3.1) percent above" appears in the text, this indicates the range (-0.8
to +5.4 percent) in which the actual percent change is likely to have occurred.
All ranges given are 90 percent confidence intervals and account only for
sampling variability. If a range does not contain zero, the change is
statistically significant. If it does contain zero, the change is not
statistically significant; that is, it is uncertain whether there was an
increase or decrease. Statistics for the current month are preliminary
estimates subject to revision in following months as additional data become
available. The average absolute percent changes from preliminary estimate to
first revision for the major seasonally adjusted components are as follows:
total construction, 1.1 percent; private construction, 1.4 percent; and public
construction, 1.6 percent.
* 90% confidence interval includes zero. The U.S. Census
Bureau does not have sufficient statistical evidence to conclude that the
actual change is different from zero.
Source: United States Census
Bureau
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