US construction spending during October 2018 was estimated at a seasonally adjusted annual rate of $1,308.8 billion, 0.1 percent (±1.5 percent) below the revised September estimate of $1,310.8 billion, according to a report today from the US Census Bureau. The October figure is 4.9 percent (±1.6 percent) above the October 2017 estimate of $1,247.5 billion.
During the first 10 months of this year, construction spending amounted to $1,096.4 billion, 5.1 percent (±1.2 percent) above the $1,043.6 billion for the same period in 2017.
Spending on private construction was at a seasonally adjusted annual rate of $998.7 billion, 0.4 percent (±0.8 percent) below the revised September estimate of $1,003.0 billion. Residential construction was at a seasonally adjusted annual rate of $539.0 billion in October, 0.5 percent (±1.3 percent) below the revised September estimate of $541.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $459.7 billion in October, 0.3 percent (±0.8 percent) below the revised September estimate of $461.3 billion.
In October, the estimated seasonally adjusted annual rate of public construction spending was $310.2 billion, 0.8 percent (±2.6 percent) above the revised September estimate of $307.8 billion. Educational construction was at a seasonally adjusted annual rate of $76.9 billion, 2.6 percent (±2.3 percent) above the revised September estimate of $75.0 billion. Highway construction was at a seasonally adjusted annual rate of $94.6 billion, 0.1 percent (±6.9 percent) below the revised September estimate of $94.6 billion.