Total U.S. Construction Up Slightly

The U.S. Department of Commerce is reporting that construction spending during October, 2016 was estimated at a seasonally adjusted annual rate of $1,172 trillion which is 0.5% above September’s number and 3.4% higher than one year ago.  Total spending through October was $972.2 billion, 4.5% higher than one year ago.  Breaking this down a little, private residential construction was at a seasonally adjusted annual rate of $885.9 billion in October, 0.2% below September’s number.  Private nonresidential construction was at a seasonally adjusted annual rate of $466.2 billion in October, 1.6% higher than September.  Nonresidential private construction was at a seasonally adjusted annual rate of $419.6 billion in October, which is 2.1% higher than September’s estimate.

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