US construction spending up 0.5%

US construction spending during October was estimated at a seasonally adjusted annual rate of $1,172.6 billion, 0.5% above the revised September estimate of $1,166.5 billion, the US Department of Commerce said today.

The October figure is 3.4% above the October 2015 estimate of $1,134.4 billion.

During the first 10 months of this year, construction spending amounted to $972.2 billion, 4.5% above the $930.7 billion for the corresponding period in 2015