According to the U.S. Census Bureau of the Department of Commerce, total construction spending for October 2015 was estimated at a seasonally adjusted annual rate of $1,107.4 billion. This rate is an increase of 1.0 percent from the revised September estimate of $1,096.6 billion. Compared to a year ago, the October rate is up 13.0 percent from that of the October 2014 rate, which was estimated at $979.6 billion. So far this year, construction spending has totaled $888.1 billion, an increase of 10.7 percent compared to the $802.3 billion for the first ten months of 2014.
Private construction spending in October was estimated at a seasonally adjusted annual rate of $802.4 billion, rising 0.8 percent from the revised September estimate of $795.8 billion. Residential construction spending for October was at a seasonally adjusted annual rate of $399.0 billion, an increase of 1.0 percent from the previous month’s revised estimate of $395.0 billion. Nonresidential construction spending for October was estimated at $403.4 billion, up 0.6 percent from the revised September estimate of $400.8 billion.
Public construction spending in October was estimated at a seasonally adjusted annual rate of $304.9 billion, up 1.4 percent from the revised September estimate of $300.8 billion. Educational construction spending was at an adjusted rate of $69.2 billion, remaining nearly unchanged from the revised September estimate of $69.2 billion. Highway construction spending was estimated at an adjusted rate of $94.1 billion for October, rising 1.1 percent from the revised September estimate of $93.1 billion.
For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.