Construction spending during October 2022 was estimated at a seasonally adjusted annual rate of $1,794.9 billion, 0.3% below the revised September estimate of $1,800.1 billion. The October figure is 9.2% above the October 2021 estimate of $1,644.3 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,420.4 billion, 0.5% below the revised September estimate of $1,427.6 billion. Residential construction was at a seasonally adjusted annual rate of $887.2 billion in October, 0.3% below the revised September estimate of $890.0 billion. Nonresidential construction was at a seasonally adjusted annual rate of $533.2 billion in October, 0.8% below the revised September estimate of $537.6 billion.
In October, the estimated seasonally adjusted annual rate of public construction spending was $374.6 billion, 0.6% above the revised September estimate of $372.5 billion.
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