ARLINGTON, Va. — Construction spending increased by 0.2 percent between August and September but was down 1.3 percent compared to September 2010, the Associated General Contractors of America (AGC) reported in an analysis of new Census Bureau data. Association officials noted that growing declines in public sector activity continue to offset modest increases in private sector demand for construction.
Ken Simonson, the AGC’s chief economist, noted that the total, seasonally adjusted annual construction spending rate in September 2011 was $787.2 billion, compared to $786 billion in August, and $797.3 billion in September 2010. Private sector construction spending increased by 0.6 percent between August and September from $499 billion to $501.8 billion, and is up 3.9 percent compared to last year. Meanwhile, public construction spending went from $287.0 billion in August to $285.3 billion in September, a 0.6 percent decrease, and is down by 9.2 percent compared to last year.