Construction Spending Dips Slightly in October

Construction spending dropped 0.1 percent in October to $1.31 trillion, according to the U.S. Census Bureau, marking the third consecutive month of decline.

Total spending grew 4.9 percent year-over-year.

Private construction spending in October fell 0.4 percent from September, with private residential spending declining 0.5 percent. Spending on private non-residential projects fell 0.3 percent.

Total public construction increased 0.8 percent during October.