October construction spending dips
Construction spending during October was estimated at a seasonally adjusted annual rate of $1,308.8 billion, 0.1 percent below the revised September estimate of $1,310.8 billion.
The October figure is 4.9 percent above the October 2017 estimate of $1,247.5 billion. During the first ten months of this year, construction spending amounted to $1,096.4 billion, 5.1 percent above the $1,043.6 billion for the same period in 2017.
Spending on private construction was at a seasonally adjusted annual rate of $998.7 billion, 0.4 percent below the revised September estimate of $1,003.0 billion. Residential construction was 0.5 percent below September. Nonresidential construction was 0.3 percent below the previous month.
In October, the estimated seasonally adjusted annual rate of public construction spending was $310.2 billion, 0.8 percent above the revised September estimate of $307.8 billion. Educational construction was 2.6 percent above September. Highway construction declined 0.1 percent.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
