12/1/2016, 4:02 PM (Source:
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U.S. construction spending edges up 0.5% in October

U.S. construction spending was estimated to have increased 0.5% in October to a seasonally adjusted annual rate of $1,172.6 billion from the revised September's estimate of $1,166.5 billion, according to a report published by the U.S. Census Bureau on Thursday.

Annually, construction spending rose 3.4% in October from last October's estimate of $1,134.4 billion.

Spending on private construction fell 0.2% in October from September to a seasonally adjusted annual estimate of $885.9 billion. Residential construction rose 1.6% in the same period to $466.2 billion, while non-residential construction was down 2.1% to $419.6 billion.

Public construction grew 2.8% to $286.8 billion in October.

TeleTrader Newsroom / DN