WASHINGTON, Dec. 3 (Xinhua) -- U.S. construction spending in October slipped by 0.1 percent from the revised September estimate, falling for the third month in a row, the U.S. Commerce Department said Monday.
Construction spending in October was estimated at a seasonally adjusted annual rate of 1.31 trillion U.S. dollars, 0.1 percent below the downwardly revised September estimate, as spending on private projects declined, data from the department showed.
September's construction spending was revised down by 0.1 percent rather than being unchanged, as previously reported.
In October, outlays on private construction was at a seasonally adjusted annual rate of 998.7 billion dollars, 0.4 percent below the revised September estimate, with residential construction down by 0.5 percent, and nonresidential construction down by 0.3 percent. Spending on private nonresidential projects grew by 0.7 percent in September.
Public construction spending was at a seasonally adjusted annual rate of 310.2 billion dollars, 0.8 percent above the revised September estimate, with educational construction up by 2.6 percent and highway construction down by 0.1 percent.
The October construction spending figure is 4.9 percent above the October 2017 estimate, the department said.
