The US Census Bureau announced today that construction spending during October 2019 was estimated at a seasonally adjusted annual rate of $1,291.1 billion, 0.8 percent (±1.0 percent) below the revised September estimate of $1,301.8 billion. The October figure is 1.1 percent (±1.5 percent) above the October 2018 estimate of $1,277.4 billion.
During the first 10 months of this year, construction spending amounted to $1,086.5 billion, 1.7 percent (±1.2 percent) below the $1,105.2 billion for the same period in 2018.
Spending on private construction was at a seasonally adjusted annual rate of $956.3 billion, 1.0 percent (±0.7 percent) below the revised September estimate of $966.1 billion. Residential construction was at a seasonally adjusted annual rate of $508.2 billion in October, 0.9 percent (±1.3 percent) below the revised September estimate of $512.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $448.1 billion in October, 1.2 percent (±0.7 percent) below the revised September estimate of $453.5 billion.
In October, the estimated seasonally adjusted annual rate of public construction spending was $334.8 billion, 0.2 percent (±1.6 percent) below the revised September estimate of $335.6 billion. Educational construction was at a seasonally adjusted annual rate of $83.3 billion, 2.5 percent (±2.6 percent) above the revised September estimate of $81.3 billion. Highway construction was at a seasonally adjusted annual rate of $95.0 billion, 2.2 percent (±3.9 percent) below the revised September estimate of $97.1 billion.