The Census Bureau announced yesterday that construction spending during August 2008 was estimated at a seasonally adjusted annual rate of $1.0721 trillion, nearly the same as the revised July estimate of $1.0718 trillion. The August figure is 5.9% below the August 2007 estimate of $1.1388 trillion.

During the first 8 months of this year, construction spending amounted to $713.5 billion, 5.9% below the $758.1 billion for the same period in 2007.

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