The value of construction put-in-place increased 1.0% during October following an unrevised 0.6% September increase. Three-month growth of 10.4% (AR) was steady with Q3 but down sharply from 29.2% during Q2. A 0.5% October rise had been expected in the Action Economics Forecast Survey.

Building activity in the private sector increased 0.8% following a 0.9% September gain. Activity increased at an 11.3% rate during the last three months. Residential building activity rose 1.0% (18.3% y/y), the seventh consecutive month of strong gain. The gain was led by a 1.6% increase in single-family building (11.3% y/y) which equaled the strongest rise of the year. Multi-family building rose 1.4% (27.2% y/y). Spending on improvements eased 0.3% (+21.5% y/y). Nonresidential building improved 0.6% (14.4% y/y) as factory sector construction rose 3.0% (37.6% y/y).

Public sector building increased 1.4% (5.6% y/y) following three months of little change. Water supply spending rose 2.5% (5.3% y/y) and office construction jumped 1.8% (7.2% y/y). Highway and street construction increased 1.1% (5.2% y/y) but power construction declined 5.2% (-8.7% y/y).

The construction spending figures are in Haver's USECON database and the expectations figure is contained in the AS1REPNA database.