Residential Dollars Behind Much of Construction Spending Gains

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Posted To: MND NewsWire

Construction expenditures so far this year continue to run ahead of what was spent in 2016, with private construction accounting for most of the increase. Residential spending remains a top star, out-shown only by private sector commercial construction. The U.S. Census Bureau said on Friday that the total amount of construction put in place in October was at a seasonally adjusted annual rate of $1.242 trillion and $111.814 billion unadjusted. The seasonally adjusted number was an increase of 1.4 percent from September and 2.9 percent year-over-year. During the year-to-date through October total spending was $1.029 trillion compared to $988.780 billion for the same period in 2016, an increase of 4.1 percent. Private sector construction was at a seasonally adjusted rate of $949.946 billion compared…(read more)

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