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December 02, 2024
US CONSTRUCTION SPENDING, OCTOBER 2024

Month over month (October 2024 vs September 2024), seasonally adjusted annual rate)

US construction spending increased 0.4% to $2,174.0 billion.                                                                                                                                                    

  • Total residential construction increased 1.5% to $945.9 billion.
  • Total non-residential construction spending decreased 0.4% to $1,228.1 billion.
  • Private sector construction increased 0.7% to $1,676.4 billion.
  • Public sector construction decreased 0.5% to $497.6 billion.                                                           

Private residential construction increased 1.5% to $934.0 billion, while private non-residential construction spending decreased 0.3% to $742.3 billion.

Public residential construction decreased 0.5% to $11.8 billion, while public non-residential construction spending decreased 0.5% to $485.8 billion.

 

Year-to-date (January-October 2024 vs January-October 2023)

US construction spending increased 7.2%. 

  • Total residential construction increased 6.8%.
  • Total non-residential construction spending increased 7.5%.                                                       
  • Private sector construction increased 6.3%.
  • Public sector construction increased 10.2%.   

 

Source: US Census Bureau, retrieved from Federal Reserve Bank of St. Louis