Census Bureau reports construction put-in-place sets 7th straight record in August

Oct. 8, 2004
Another report says manufacturing is also on the rise

Another report says manufacturing is also on the rise

The Census Bureau recently reported that the value of construction-put-in-place in August rose to $1.015 trillion at a seasonally adjusted annual rate, which is up 0.8% from the revised July estimate of $1.007 trillion. In the first eight months of 2004, total construction jumped 9% ahead of the same period in 2003.

Private nonresidential construction grew 3.6%, and some of its components also saw increases, including health-care and lodging (+10%), office (+9%), and commercial at (+5%). However, some components decreased, including educational (-5%), power (-4%), and manufacturing (-2%). Public construction saw an increase of 4.5%, and among its components, there were year-to-date gains for highways and street (+8%), sewage and waste disposal (+9%), office (+6%), and educational (+3%). And finally, private residential increased by 14%.

The Institute for Supply Management also released a report stating that economic activity in the manufacturing sector grew in September for the 16th straight month, and that 15 out of 20 manufacturing industries reported gains.

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