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Tuesday, December 1, 2015

Construction Spending Rose 1.0 Percent in October

Construction spending grew 1.0 percent in October to $1,107.4 billion (SAAR). September’s spending estimate was revised up to $1,096.6 billion (0.6 percent growth). Construction spending during the first 10 months of 2015 amounted to $888.1 billion, 10.7 percent higher than in the first 10 months of 2014.


Total private construction rose to $802.4 billion (SAAR), 0.8 percent above the revised September estimate of $795.8 billion.

Private residential construction rose to a seasonally adjusted annual rate of $399.0 billion, up 1.0 percent from September’s estimate, as construction of single and multifamily units increased by 1.6 percent and 1.4 percent respectively.

Private nonresidential construction grew 0.6 percent to a seasonally adjusted rate of $403.4 billion, as construction related to education, communication and manufacturing increased.

Public construction spending increased by 1.4 percent to $304.9 billion (SAAR), after falling 0.1 percent in September. Construction related to public safety and conservation and development posted strong gains, while construction related to power fell slightly.

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