Spending on construction projects fell 1.2% to a seasonally adjusted annual rate of $1.073 trillion in October as private construction decreased 2.0% and public construction rose 0.7%, according to Commerce Department figures released yesterday.

The overall decrease, which was larger than the 0.9% decrease projected by Thomson Reuters, followed a revised September level of $1.086 trillion, flat from the prior month, originally reported as a 0.3% decline to $1.060 trillion.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.