2015 Construction Spending Pegged at $1.1 Trillion

The U.S. Census Bureau of the Department of Commerce recently announced that construction spending during October 2015 was estimated at a seasonally adjusted annual rate of $1,107.4 billion, 1% (±1.8%) above the revised September estimate of $1,096.6 billion. This figure is 13% (±2.5%) above the October 2014 estimate of $979.6 billion.

During the first 10 months of 2015, construction spending amounted to $888.1 billion, 10.7% (±1.3%) above the $802.3 billion for the same period in 2014.

Spending on private construction was at a seasonally adjusted annual rate of $802.4 billion, 0.8% (±1.0%) above the revised September estimate of $795.8 billion. Residential construction was at a seasonally adjusted annual rate of $399 billion in October, 1% (±1.3%) above the revised September estimate of $395 billion. Nonresidential construction was at a seasonally adjusted annual rate of $403.4 billion in October, 0.6% (±1%) above the revised estimate of $400.8 billion.

In October, the estimated seasonally adjusted annual rate of public construction spending was $304.9 billion, 1.4% (±3%) above the revised September estimate of $300.8 billion.

Craig DiLouie

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