The annual rate of growth for public construction rebounded 2.5% in August to a seasonally adjusted annual rate of $313.6 billion, which was just 1 % below August 2009's pace, according to the U.S. Dept. of Commerce (see chart). In addition, Commerce upwardly revised July's seasonally adjusted annual number to $306.0 billion from $298.8 billion.rnOn a year-to-date basis, total public construction through the first eight months of this year was $197.44 billion, which was 5.0% below the same period of a year ago, according to the latest construction put-in-place data released by Commerce (see table). This drop was an improvement over the 6.4% year-to-year decline registered in July.
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