U.S. construction spending in October 2024 was at a seasonally adjusted annual rate of $2,174.0 billion, up 0.4% from September and 5% from October 2023.
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For the first 10 months of the year, construction spending came in at $1,814.8 billion, up 7.2% from the same period in 2023.
Spending on private construction was $1676.4 billion, up 0.7% from September’s estimate. Residential construction was $934 billion, a 1.5% increase above September, while nonresidential construction was $742.3 billion for a decrease of 0.3%.
Public construction spending was $497.6 billion, a 0.5% decrease from September’s estimate. Educational construction was $105.3 billion, down 0.4%. Highway construction was $141.1 billion, down 0.7% from September’s estimate of 142.1 billion.
