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December 6, 2019

U.S. Construction Spending Continues to Slip; Gov’t Sector Falls for First Time Since June

U.S. Construction Spending Continues to Slip; Gov’t Sector Falls for First Time Since June

Overall U.S. construction spending dropped 0.8 percent in October, following on a 0.3 percent decline in September. During the first 10 months of 2019, annualized construction spending is down 1.7 percent from a year earlier.

Government construction spending declined 0.2 percent in October, with state and local projects falling 0.3 percent while federal project spending increased 0.6 percent. This was the first decline in overall government spending since June.

Private construction spending declined 1 percent, following a 1.1% decline in September.

Private residential construction dropped 0.9 percent, with a 1.6 percent decline in multifamily projects being offset by a 1.6 percent increase in single-family home construction.

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