Commerce Dept. Says October Value of New Construction Increases to $798.5 Billion

The U.S. Census Bureau of the Department of Commerce said construction spending during October 2011 was estimated at a seasonally adjusted annual rate of $798.5 billion, 0.8 percent above the revised September estimate of $792.1 billion. The October figure is 0.4 percent below the October 2010 estimate of $802 billion. During the first 10 months of this year, construction spending amounted to $655.5 billion, 2.9 percent below the $675.4 billion for the same period in 2010.

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