Construction spending during October was estimated at a seasonally adjusted annual rate of approximately $1.795 trillion, a 9.2% increase over the same month last year but 0.3% below the revised September estimate of $1.8 trillion, according to the U.S. Census Bureau.
Spending on private construction was at a seasonally adjusted annual rate of $1.42 trillion, 0.5% below the revised September estimate.
Residential construction was at a seasonally adjusted annual rate of $887.2 billion in October, 0.3% below the revised September estimate of $890 billion. Nonresidential construction was at a seasonally adjusted annual rate of $533.2 billion in October, 0.8% below the revised September estimate of $537.6 billion, the Census Bureau said.
The estimated seasonally adjusted annual rate of public construction spending in October was $374.6 billion, 0.6% above the revised September estimate of $372.5 billion.
Educational construction was at a seasonally adjusted annual rate of $79.4 billion, 0.5% above the revised September estimate of $79 billion.
Highway construction was at a seasonally adjusted annual rate of $113.4 billion, 0.8 percent% below the revised September estimate of $114.3 billion.
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