U.S. construction ticks up in October
All categories of private and public construction spending edge up for month.
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during October 2015 was estimated at a seasonally adjusted annual rate of $1,107.4 billion, 1.0 percent (±1.8%)* above the revised September estimate of $1,096.6 billion. The October figure is 13.0 percent (±2.5%) above the October 2014 estimate of $979.6 billion and is the highest level since December 2007.
During the first 10 months of this year, construction spending amounted to $888.1 billion, 10.7 percent (±1.3%) above the $802.3 billion for the same period in 2014.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $802.4 billion, 0.8 percent (±1.0%)* above the revised September estimate of $795.8 billion.
Residential construction was at a seasonally adjusted annual rate of $399.0 billion in October, 1.0 percent (±1.3%)* above the revised September estimate of $395.0 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $403.4 billion in October, 0.6 percent (±1.0%)* above the revised September estimate of $400.8 billion.
PUBLIC CONSTRUCTION
In October, the estimated seasonally adjusted annual rate of public construction spending was $304.9 billion, 1.4 percent (±3.0%)* above the revised September estimate of $300.8 billion.
Educational construction was at a seasonally adjusted annual rate of $69.2 billion, nearly the same as (±2.8%)* the revised September estimate of $69.2 billion.
Highway construction was at a seasonally adjusted annual rate of $94.1 billion, 1.1 percent (±7.1%)* above the revised September estimate of $93.1 billion.
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