Construction spending during October 2006 was estimated at a seasonally adjusted annual rate of $1,178.4 billion, 1.0 percent below the revised September estimate of $1,190.0 billion. The October figure is 0.5 percent above the October 2005 estimate of $1,172.6 billion.
During the first 10 months of this year, construction spending amounted to $1,008.4 billion, 5.9 percent (1.8%) above the $952.5 billion for the same period in 2005.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $905.3 billion, 1.5 percent below the revised September estimate of $919.0 billion. Residential construction was at a seasonally adjusted annual rate of $597.1 billion in October, 1.9 percent below the revised September estimate of $608.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $308.2 billion in October, 0.7 percent below the revised September estimate of $310.2 billion.
Public Construction
In October, the estimated seasonally adjusted annual rate of public construction spending was $273.1 billion, 0.8 percent above the revised September estimate of $271.0 billion. Educational construction was at a seasonally adjusted annual rate of $70.7 billion, 0.2 percent above the revised September estimate of $70.6 billion. Highway construction was at a seasonally adjusted annual rate of $76.2 billion, 0.3 percent above the revised September estimate of $76.0 billion.
Economic indicators in MDM’s Databank.
More details on construction spending here.
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