Construction spending rises in October; flat YoY

AZBEX

Nonresidential construction spending rose 2.1 percent in October, totaling $717.6B on a seasonally adjusted basis, according to an Associated Builders and Contractors analysis of data released by the U.S. Census Bureau. The level of spending, however, remains virtually unchanged from a year ago.

Ten of the sixteen subcategories experienced positive growth, with educational spending topping the list with an increase of 9 percent. Public safety (up 6.8 percent), office (up 5.3 percent) and conservation and development (up 4.3 percent) were the next highest subcategories. Religious (down 3.7 percent) and amusement and recreation (down 3.5 percent) spending saw the largest decreases over the previous month.

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