October U.S. Construction Spending Decrease

U.S. construction spending in October was estimated at a seasonally adjusted annual rate of $1.8 trillion, down 0.3% from September but grew 9.2% over the year prior. Year-to-date spending was 10.8% higher than in 2021 at $1.5 trillion.

Private construction spending was $1.4 trillion, 0.5% below September’s seasonally adjusted annual rate. Residential totals for October were $887.2 billion, 0.3% lower than last month, and non-residential totals decreased 0.8% from September to $533.2 billion. See U.S. Census Bureau

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