Friday, December 1, 2017

Residential Dollars Behind Much of Construction Spending Gains

Posted To: MND NewsWire

Construction expenditures so far this year continue to run ahead of what was spent in 2016, with private construction accounting for most of the increase. Residential spending remains a top star, out-shown only by private sector commercial construction. The U.S. Census Bureau said on Friday that the total amount of construction put in place in October was at a seasonally adjusted annual rate of $1.242 trillion and $111.814 billion unadjusted. The seasonally adjusted number was an increase of 1.4 percent from September and 2.9 percent year-over-year. During the year-to-date through October total spending was $1.029 trillion compared to $988.780 billion for the same period in 2016, an increase of 4.1 percent. Private sector construction was at a seasonally adjusted rate of $949.946 billion compared...(read more)
Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


from Mortgage News Daily http://ift.tt/2zGNmfX

No comments:

Post a Comment