Construction spending rose 1.3% at a seasonally adjusted annual rate (SAAR) of $1,438.5 billion in October, according to the Census Bureau. October’s figure is 3.7% above the October 2019 estimate of $1,386.8 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,093.7 billion, 1.4% above the revised September estimate of $1,078.9 billion.
Private residential construction was at a seasonally adjusted annual rate of $637.1 billion in October, 2.9% above the revised September estimate of $619.1 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $456.6 billion in October, 0.7% below the revised September estimate of $459.9billion.
In October, the estimated seasonally adjusted annual rate of public construction spending was $344.8 billion, 1.0% above the revised September estimate of $341.4 billion.
Read the Census release.