Keeping you up to date on the latest data releases.
- Construction Spending
Private construction spending rose to $625.7 billion in October, 0.5 percent below the September estimate of $629.0 billion. October’s results are 6.6 percent higher on a year-over-year basis. Residential construction spending fell 0.6 percent during the course of the month, to $326.9 billion. New multifamily construction spending grew 2.2 percent in October and is up 37.8 percent year-over-year. New single-family construction fell 0.6 percent and is up 17.8 percent since last October. Private nonresidential construction spending was at $298.9 billion, 0.5 percent below the September estimate of $300.2 billion. Eight of the eleven nonresidential construction sectors saw month-to-month increases in spending, with the educational sector posting the largest monthly increase of 6.6 percent. The communication sector saw the largest monthly decline of 8.4 percent.