Construction Spending up Big Year-Over-Year

Posted To: MND NewsWire

Both overall construction spending and spending for residential purposes in October was little changed from September according to data released by the Census Bureau on Tuesday. Spending on both publicly and privately funded construction however was significantly higher than in October 2014 . Construction spending overall was at a seasonally adjusted annual rate of $1,107.4 billion during the month, a 1.0 percent increase over the September estimate of $1,096 billion and 13.0 percent higher than a year earlier when spending was $979.6 billion. On a non-seasonally adjusted basis construction spending in October totaled $101.1 billion and for all of 2015 through the end of October $888.1 billion in construction had been put in place. One year earlier the total year-to-date spending was $802.3...(read more)

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