Construction Spending Data Released

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In early December the US Department of Commerce’s Census Bureau released construction spending data for October 2014. It showed that overall construction is improving. Total annual construction spending during October 2014 was estimated at $971 billion, a 3.3% increase above October 2013.

Public construction increased to $279 billion, a 1.5% increase above October 2013. Educational facility construction spending was $64 billion, a 6.1% increase over the previous year. Other public construction areas showing improvement include power, and amusement and recreation. Private construction spending was $692 billion, a 4% increase above October 2013 spending.