Construction Spending up 1.1% YoY, Private Sector Losing Momentum

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Posted To: MND NewsWire

The nation’s total spending on construction projects was at a seasonally adjusted annual rate of $1.291 trillion in October, 1.1 percent higher than a year earlier, but down 0.8 percent from the seasonally adjusted total in September of $1.301 trillion. On a non-adjusted basis there was $115.501 billion spent during the month. For the year-to-date (YTD), expenditures have totaled $1.086 trillion, 1.7 percent less than the $1.105 trillion in outlays during the first 10 months of 2018. Private sector spending is dragging on overall spending. The seasonally adjusted annual rate for the sector’s spending was $956.272 billion in October, down 1.0 percent from September’s $966.135 billion and 1.8 percent lower than the $973.700 billion rate in October 2018. Spending during the month was $84.234 billion…(read more)

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