Construction spending during August 2009 was estimated at a seasonally adjusted annual rate of $941 billion, 0.8 percent above the revised July estimate of $934.6 billion, according to a U.S. Census Bureau report released today.

The August figure is 11.6 percent below the August 2008 estimate of $1.06 trillion. Through two-thirds of the year, construction spending amounted to $629.5 billion, which was 11.9 percent below the $714.3 billion for the same period in 2008.

Spending on private construction was up from July. Estimated private construction spending was at an annual rate of $622.1 billion, which was 1.8 percent above July’s estimate. Estimated residential construction spending reached a seasonally adjusted rate of $259.5 billion, up 4.7 percent from July, and nonresidential construction fell slightly to an annual rate of $372.6 billion, down 0.1 percent from July. Despite being up in July, spending on private construction was down 17.8 percent from a year ago.

Spending on public construction was down from July. Estimated public construction spending was at an annual rate of $319.8 billion, 1.1 percent below July. Educational construction was at an annual rate of $89.2 billion, slightly below the $89.3 billion spent in July. Highway construction spending was at an annual rate of $85.2 billion, 0.8 percent above July. Despite being down in July, spending on public construction was up 3.3 percent from one year ago.

Overall residential construction spending was down 26 percent from August 2008, and nonresidential construction spending was down 4.7 percent.

See the full report.