National spending on construction spending
rose slightly in October, but for the second month in a row, the increase wasn’t
driven by the residential sector. The U.S. Census Bureau reported that construction
put in place during the month was at a seasonally adjusted annual rate of $1.598
trillion, an 0.2 percent increase from September and up 8.6 percent compared to
On a non-adjusted basis, spending totaled $141.911
billion, down from $145.746 billion in September. For the year-to-date (YTD)
spending totals $1.373 trillion, 7.5 percent more than the $1.231 spent to the
same point in 2020.
Privately funded construction fell by 0.2
percent from the previous month to a seasonally adjusted rate of $1.245 trillion.
This represents an 11.1 percent increase from the prior October.