Oct. Construction Spending Ticked Down from Sept. But Rose 1.1% YOY

Washington, DC, December 2, 2019-Construction spending during October 2019 was estimated at a seasonally adjusted annual rate of $1,291.1 billion, 0.8% below the revised September estimate of $1,301.8 billion, according to the U.S. Census Bureau. 

The October figure is 1.1% above the October 2018 estimate of $1,277.4 billion. 

During the first ten months of this year, construction spending amounted to $1,086.5 billion, 1.7% below the $1,105.2 billion for the same period in 2018.

Spending on private construction was at a seasonally adjusted annual rate of $956.3 billion, 1.0% below the revised September estimate of $966.1 billion. Residential construction was at a seasonally adjusted annual rate of $508.2 billion in October, 0.9% below the revised September estimate of $512.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $448.1 billion in October, 1.2% below the revised September estimate of $453.5 billion.

In October, the estimated seasonally adjusted annual rate of public construction spending was $334.8 billion, 0.2% below the revised September estimate of $335.6 billion. Educational construction was at a seasonally adjusted annual rate of $83.3 billion, 2.5% above the revised September estimate of $81.3 billion. Highway construction was at a seasonally adjusted annual rate of $95.0 billion, 2.2% below the revised September estimate of $97.1 billion.