Construction Data Are Basically Flat

ByJohn S. McClenahen The value of construction put in place across the U.S. in October was at a seasonally adjusted annual rate of $1.00094 trillion, nearly the same as September's rate of $1.0009 trillion, the U.S. Commerce Department reported on Dec. 1. Spending on private construction in October, the most recent month for which statistics are available, was at a seasonally adjusted annual rate of $773.4 billion, 0.3% below September's revised rate of $776 billion. Residential construction was at a rate of $549.4 billion in October, 0.3% below September's revised $551.1 billion rate. Nonresidential construction was at a rate of $224 billion in October, 0.4% below the revised September rate of $224.8 billion. With an increase in highway construction offsetting a decrease in educational facilities, public construction spending was at a seasonally adjusted annual rate of $236 billion in October, 1.2% higher than the revised September rate of $233.l billion.