Construction Spending Inched Up 0.2% in October

Construction Spending Inched Up 0.2% in October

December 01, 2021 from Floor Focus FloorDaily.net

Washington, DC, December 1, 2021 – Construction spending during October 2021 was estimated at a seasonally adjusted annual rate of $1,598.0 billion, 0.2% above the revised September estimate of $1,594.8 billion, according to the U.S. Census Bureau.

The October figure is 8.6% above the October 2020 estimate of $1,471.7 billion. During the first ten months of this year, construction spending amounted to $1,323.1 billion, 7.5% above the $1,230.8 billion for the same period in 2020.

Spending on private construction was at a seasonally adjusted annual rate of $1,245.0 billion, 0.2% below the revised September estimate of $1,247.9 billion. Residential construction was at a seasonally adjusted annual rate of $774.7 billion in October, 0.5% below the revised September estimate of $778.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $470.3 billion in October, 0.2% above the revised September estimate of $469.4 billion.

In October, the estimated seasonally adjusted annual rate of public construction spending was $353.0 billion, 1.8% above the revised September estimate of $346.8 billion. Educational construction was at a seasonally adjusted annual rate of $82.2 billion, 0.2% above the revised September estimate of $82.0 billion. Highway construction was at a seasonally adjusted annual rate of $102.5 billion, 2.4% above the revised September estimate of $100.1 billion.

Related Topics:U.S. Census Bureau