Construction spending flat in October
Spending tracks at $802.3 billion annual rate, up just 0.7 percent over September but well below 2009 levels.
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during October 2010 was estimated at a seasonally adjusted annual rate of $802.3 billion, 0.7 percent (±1.4%)* above the revised September estimate of $797.1 billion. The October figure is 9.3 percent (±1.8%) below the October 2009 estimate of $884.7 billion.
During the first 10 months of this year, construction spending amounted to $684.7 billion, 11.2 percent (±1.0%) below the $770.6 billion for the same period in 2009.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $481.8 billion, 0.8 percent (±1.1%)* above the revised September estimate of $477.8 billion.
Residential construction was at a seasonally adjusted annual rate of $229.6 billion in October, 2.5 percent (±1.3%) above the revised September estimate of $224.0 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $252.2 billion in October, 0.7 percent (±1.1%)* below the revised September estimate of $253.8 billion.
PUBLIC CONSTRUCTION
In October, the estimated seasonally adjusted annual rate of public construction spending was $320.5 billion, 0.4 percent (±2.1%)* above the revised September estimate of $319.2 billion.
Educational construction was at a seasonally adjusted annual rate of $75.0 billion, 1.7 percent (±3.0%)* below the revised September estimate of $76.3 billion.
Highway construction was at a seasonally adjusted annual rate of $87.0 billion, 1.2 percent (±5.0%)* above the revised September estimate of $86.0 billion.
