Construction Spending Rose 4.9% YOY in October

Washington, DC, December 3, 2018-Construction spending during October 2018 was estimated at a seasonally adjusted annual rate of $1,308.8 billion, 0.1% below the revised September estimate of $1,310.8 billion, according to the U.S. Census Bureau.

The October figure is 4.9% 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% 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% below the revised September estimate of $1,003.0 billion. Residential construction was at a seasonally adjusted annual rate of $539.0 billion in October, 0.5% below the revised September estimate of $541.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $459.7 billion in October, 0.3% below the revised September estimate of $461.3 billion.

In October, the estimated seasonally adjusted annual rate of public construction spending was $310.2 billion, 0.8% above the revised September estimate of $307.8 billion. Educational construction was at a seasonally adjusted annual rate of $76.9 billion, 2.6% above the revised September estimate of $75.0 billion. Highway construction was at a seasonally adjusted annual rate of $94.6 billion, 0.1% below the revised September estimate of $94.6 billion.