Total construction spending in October was at a
seasonally adjusted annual rate of $1.439 trillion according to U.S. Census
Bureau estimates. This was an increase of 1.3 percent from the revised
September estimate of $1.420 trillion and 3.7 percent higher than spending in
October of 2019.
While virtually all residential spending is privately funded, the
increase in that sector was the second largest (behind public safety spending) of
any in the overall year-over-year comparison. Spending for the month, prior to adjustment, totaled
$128.008 billion compared to $130.251 billion in September. Spending for the year-to-date
(YTD) is up 4.3 percent, from $1.140 trillion in 2019 to $1.190 during the
first 10 months of 2020.


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