Posted To: MND NewsWire

National spending on construction spending rose slightly in October, but for the second month in a row, the increase wasn’t driven by the residential sector. The U.S. Census Bureau reported that construction put in place during the month was at a seasonally adjusted annual rate of $1.598 trillion, an 0.2 percent increase from September and up 8.6 percent compared to October 2020. On a non-adjusted basis, spending totaled $141.911 billion, down from $145.746 billion in September. For the year-to-date (YTD) spending totals $1.373 trillion, 7.5 percent more than the $1.231 spent to the same point in 2020. Privately funded construction f ell by 0.2 percent from the previous month to a seasonally adjusted rate of $1.245 trillion. This represents an 11.1 percent increase from the prior October. Residential…(read more)

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Published On: December 1, 2021 / Categories: Mortgage News /