Construction Spending Holds Steady in October – NMP
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Construction Spending Holds Steady in October

Dec 03, 2019
Photo credit: Getty Images/Maudib

Construction spending during October was estimated at a seasonally adjusted annual rate of $1.29 billion, according to new data from the U.S. Census Bureau. This is 0.8 percent below the revised September estimate of $1.3 billion but 1.1 percent above the October 2018 estimate of $1.27 billion.
 
During the first 10 months of this year, construction spending amounted to $1.08 billion, which is 1.7 percent below the $1.1 billion for the same period in 2018. 
 
Spending on private construction in October was at a seasonally adjusted annual rate of $956.3 billion, one percent below the revised September estimate of $966.1 billion. Residential construction was at a seasonally adjusted annual rate of $508.2 billion, down 0.9 percent from the revised September estimate of $512.6 billion. Non-residential construction was at a seasonally adjusted annual rate of $448.1 billion in, which was 1.2 percent lower than the revised September estimate of $453.5 billion.
 
Single-family housing starts in October were at a rate of 936,000, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development. This represents a two percent increase from the revised September figure of 918,000.
 
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Phil Hall
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Dec 03, 2019
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