Construction spending during October 2022 was estimated at a seasonally adjusted annual rate of $1,794.9 billion, down 0.3% from September. Spending in October 2022 was up 9.2% from the prior–year period.
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During the first 10 months of this year, construction spending was $1,507.8 billion, up 10.8% from the prior-year period.
Private construction spending was at a seasonally adjusted annual rate of $1,420.4 billion, down 0.5% from September. Residential construction was at a seasonally adjusted annual rate of $887.2 billion in October, down 0.3% from September. Nonresidential construction was at a seasonally adjusted annual rate of $533.2 billion in October, down 0.8% from September.
The estimated seasonally adjusted annual rate of public construction spending in October 2022 was $374.6 billion, up 0.6% from September. Educational construction was at a seasonally adjusted annual rate of $79.4 billion, up 0.5% from September. Highway construction was at a seasonally adjusted annual rate of $113.4 billion, down 0.8% from September.
