Electricalmarketing 203 20141205emvalcon595
Electricalmarketing 203 20141205emvalcon595
Electricalmarketing 203 20141205emvalcon595
Electricalmarketing 203 20141205emvalcon595
Electricalmarketing 203 20141205emvalcon595

Value of New Construction Up 5.8% YOY to $939.9 Billion for First 10 Months of 2014

Dec. 5, 2014
Construction spending during Oct. 2014 was estimated at a seasonally adjusted annual rate of $971 billion, 1.1% above the revised September estimate of $960.3 billion. The October figure is 3.3% above the Oct. 2013 estimate.

The Department of Commerce said construction spending during Oct. 2014 was estimated at a seasonally adjusted annual rate of $971 billion, 1.1% above the revised September estimate of $960.3 billion. The October figure is 3.3% above the Oct.  2013 estimate of $939.9 billion. During the first 10 months of this year, construction spending amounted to $800.6 billion, 5.8% above the $756.5 billion for the same period in 2013.

Private construction. Spending on private construction was at a seasonally adjusted annual rate of $692.4 billion, 0.6% above the revised September estimate of $688 billion. Residential construction was at a seasonally adjusted annual rate of $353.8 billion in October, 1.3% above the revised September estimate of $349.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $338.6 billion in October, 0.1% below the revised September estimate of $338.9 billion.

The value of new construction at private manufacturing facilities hit $57.4 billion in October, a 3.4% increase over September and a 23% increase year-over-year from Oct. 2013. 

Public construction. In October, the estimated seasonally adjusted annual rate of public construction spending was $278.6 billion, 2.3% above the revised September estimate of $272.3 billion. Educational construction was at a seasonally adjusted annual rate of $64.5 billion, 2.2% above the revised September estimate of $63.1 billion.  With a 11.2% increase to $2 billion, public commercial construction led other public construction segments, followed by the 10.7% increase for the public safety segment to $9.6 billion.