TELETRADER News
12/1/2020, 4:00 PM (Source: TeleTrader)
more TeleTrader news

US construction spending up by 1.3% in October

Construction spending in the United States in October was estimated at a seasonally adjusted annual rate of $1,438.5 billion, marking an increase of 1.3% in comparison to the previous month's revised figure, the US Census Bureau reported on Tuesday. On an annual basis, the monthly figure rose by 3.7%. In the first ten months of the year, total construction spending stood at $1,189.6 billion, 3.3% higher than in the same period in 2019.

Private construction spending in October came in at $1,093.7 billion, up by 1.4% in comparison to the previous month. Residential construction rose by 2.9% on a monthly basis to a seasonally adjusted annual rate of $637.1 billion. On the other hand, nonresidential construction dropped by 0.7% since September to $456.6 billion.

Public construction spending stood at $344.8 billion, up by 1.0% compared to September. Highway construction grew by 1.6% compared to the last month's revised figure to $92.6 billion, while educational construction advanced by 1.1% month-on-month to reach $86.4 billion.

Breaking the News / JR