Construction spending during October 2024 was estimated at a seasonally adjusted annual rate of $2,174.0 billion, 0.4% (±1.2%) above the revised September estimate of $2,164.7 billion.
The October figure is 5.0% (±1.5%) above the October 2023 estimate of $2,071.1 billion.
During the first 10 months of this year, construction spending amounted to $1,814.8 billion, 7.2% (±1.2%) above the $1,693.2 billion for the same period in 2023.
In October, the estimated seasonally adjusted annual rate of public construction spending was $497.6 billion, 0.5% (±2.0%) below the revised September estimate of $500.0 billion.
- Highway construction was at a seasonally adjusted annual rate of $141.1 billion, 0.7% (±5.3%) below the revised September estimate of $142.1 billion.
- Educational construction was at a seasonally adjusted annual rate of $105.3 billion, 0.4% (±2.5%) below the revised September estimate of $105.7 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,676.4 billion, 0.7% (±0.7%) above the revised September estimate of $1,664.7 billion.
- Residential construction was at a seasonally adjusted annual rate of $934.0 billion in October, 1.5% (±1.3%) above the revised September estimate of $920.3 billion.
- Nonresidential construction was at a seasonally adjusted annual rate of $742.3 billion in October, 0.3% (±0.7%) below the revised September estimate of $744.4 billion.
