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Construction spending came in slightly ahead of estimates in October to an annual rate of $1,172.6 billion, the U.S. Census Bureau and the Department of Commerce report, 0.5 percent above the September estimate and 3.4 percent above the October 2015 estimate. Private residential construction spending also came in higher in October, to $466.2 billion, up 1.6 percent from September.

Private construction spending overall in October, according to the report, was at an annual rate of $885.9 billion, 0.2 percent below the September estimate.

Construction spending totaled $972.2 billion in the first 10 months of 2016, more than the $930.7 billion tallied over the first 10 months of 2015.

Source: U.S. Census Bureau

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