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December 01, 2022US CONSTRUCTION SPENDING, OCTOBER 2022 Month over month (October 2022 vs September 2022, seasonally adjusted annual rate)
US construction spending decreased 0.3% to $1,794.9 billion. This follows a revised increased 0.1% reported in September 2022, when construction spending totaled $1,800.1 billion. Total residential construction decreased 0.3% to $896.5 billion. Total non-residential construction spending decreased 0.3% to $898.4 billion.
Private sector construction decreased 0.50% to $1,420.4 billion. Private residential construction decreased 0.3% to $887.2 billion, while private non-residential construction spending decreased 0.8% to $533.2 billion.
Public sector construction increased 0.6% to $374.6 billion. Public residential construction decreased 0.9% to $9.3 billion, while public non-residential construction spending increased 0.6% to $365.3 billion.
Year-to-date (Jan-Oct 2022 vs Jan-Oct 2021)
US construction spending was up 10.3%
- Total residential construction was up 16.1%
- Total non-residential construction was up 4.7%
- Private sector construction was up 12.6%
- Public sector construction was up 2.2%
Source: US Census Bureau, retrieved from FRED, Federal Reserve Bank of St. Louis
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