Construction spending in October rose 1.4 percent above the revised September figure of $860.4 billion, according to the U.S. Census Bureau and the U.S. Department of Commerce. Spending in October totaled $872.1 billion, a 9.6 percent year-over-year gain.
As The Real Deal reported last month, the September figures showed the first gain in spending following a large drop in July and another fall in August. But even with the declines over the summer, the first 10 months of 2012 have seen construction spending reach $707.4 billion — a 9.3 percent year-over-year increase. [more]