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.
