December 1, 2017

October Construction Spending: Up 1.4 Pct. From September; YTD Total Is 4.1 Percent Higher Than 2016

Filed under: Economy,Taxes & Government — Tom @ 10:31 am

From the Census Bureau:

Construction spending during October 2017 was estimated at a seasonally adjusted annual rate of $1,241.5 billion, 1.4 percent (±1.5 percent)* above the revised September estimate of $1,224.6 billion. The October figure is 2.9 percent (±1.6 percent) above the October 2016 estimate of $1,206.6 billion. During the first 10 months of this year, construction spending amounted to $1,029.6 billion, 4.1 percent (±1.2 percent) above the $988.8 billion for the same period in 2016.

4.1 percent is a decent cumulative year-over-year advance. October’s figure may be the beginning of a breakout from the relative doldrums of the past several months.


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