Construction spending increased 0.8 percent to $908.4 billion in October, however, spending on private construction was down 0.5 percent to $625.7 billion, according to the U.S. Department of Commerce. Residential construction was at a rate of $326.9 billion, down 0.6 percent from September. Nonresidential construction was also down 0.5 percent to $298.9 billion.
Construction spending increased 0.8 percent to $908.4 billion in October, however, spending on private construction was down 0.5 percent to $625.7 billion, according to the U.S. Department of Commerce. Residential construction was at a rate of $326.9 billion, down 0.6 percent from September. Nonresidential construction was also down 0.5 percent to $298.9 billion.
Public construction spending was $282.7 billion, 3.9 percent above September, with education spending up 8.5 percent to $64.0 billion.
