Construction spending grows
The Department of Commerce said construction spending climbed 1.4 percent during the month of August compared to July.
The seasonally adjusted annual rate of $799.1 billion is 0.9 percent above August 2010. During the first eight months of this year, construction spending amounted to $511.4 billion, 3.0 percent below the $527.3 billion for the same period in 2010.
Spending on private construction was at a seasonally adjusted annual rate of $511.0 billion, 0.4 percent above the revised July estimate of $508.9 billion.
In August, public construction spending was $288.2 billion, 3.1 percent above the revised July estimate of $279.4 billion.
Highway construction was at a seasonally adjusted annual rate of $80.2 billion, 3.5 percent above the revised July estimate of $77.4 billion.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
