Commerce Dept. Says Construction Spending Increased to $908.4 Billion in October

Private construction. Spending on private construction was at a seasonally adjusted annual rate of $625.7 billion, 0.5% below the September estimate of $629 billion. Residential construction was at a seasonally adjusted annual rate of $326.9 billion in October, 0.6% below the September estimate of $328.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $298.9 billion in October, 0.5% below the September estimate of $300.2 billion. With the exception of the residential, power, amusement  and recreation and communications in the private sector, all construction areas registered gains in October.

Public construction. In October, the estimated seasonally adjusted annual rate of public construction spending was $282.7 billion, 3.9% above the September estimate of $272.2 billion. Highway construction was at a seasonally adjusted annual rate of $83.3 billion, 0.6% percent above the September estimate of $82.8 billion.