Construction Spending Annual Rates for October 2013

December 2, 2013

Eli Y. Robbins Construction Law


According to the U.S. Census Bureau of the Department of Commerce, total construction spending for October 2013 was estimated at a seasonally adjusted annual rate of $908.4 billion.  This rate is up 0.8 percent from the revised September estimate of $901.2 billion and is 5.3 percent above the October 2012 estimate of $863.1 billion.  Construction spending totaled to $747.0 billion during the first 10 months of 2013, which is 5.0 percent above the $711.7 billion amount for the same period in 2012.

Private construction spending was estimated at a seasonally adjusted annual rate of $625.7 billion, which is down 0.5 percent from September’s $629.0 billion revised estimate.  Residential construction spending for October was at a seasonally adjusted annual rate of $326.9 billion, down 0.6 percent from the revised September estimate of $328.7 billion.  Nonresidential construction spending for October was estimated at a seasonally adjusted annual rate of $298.9 billion, down 0.5 percent from September’s revised estimate of $300.2 billion.

As for public construction spending, the estimated seasonally adjusted annual rate for October was $282.7 billion, up 3.9 percent from the revised September estimate of $272.2 billion.  Educational construction spending was at an adjusted rate of $64.0 billion, up 8.5 percent from September’s revised estimate of $59.0 billion.  Highway construction spending in October was estimated at a seasonally adjusted annual rate of $83.3 billion, up 0.6 percent from the previous month’s revised estimate of $82.8 billion.

For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.