Posted December 1, 2017

Construction spending up 1.4 percent in October

Construction spending during October 2017 was estimated at a seasonally adjusted annual rate of $1.24 trillion, 1.4 percent above the revised September estimate of $1.22 trillion.

The October figure is 2.9 percent above the October 2016 estimate of $1.20 trillion. During the first 10 months of this year, construction spending amounted to $1.02 trillion, 4.1 percent above the $988.8 billion for the same period in 2016.

Spending on private construction was at a seasonally adjusted annual rate of $949.9 billion, 0.6 percent above September. Residential construction was 0.4 percent higher than September, while non-residential construction rose by 0.9 percent.

At $291.6 billion, public construction spending was 3.9 percent more than in September. Educational construction spending climbed 10.9 percent, while highway construction grew by 1.1 percent compared to September.

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