During the first 10 months of this year, construction spending amounted to $930.9 billion, 8.8 percent above the $855.3 billion for the same period in 2004.

?EUR??,,????'??For the year to date, the three major construction categories are well ahead of the first 10 months of 2004,?EUR??,,????'?? Ken Simonson, chief economist for the Associated General Contractors of America, said. ?EUR??,,????'??Total construction spending is almost nine percent higher, led by an 11 percent gain in private residential spending. Public construction spending is up eight percent and private nonresidential spending is five percent higher.?EUR??,,????'??

Spending on private construction was at a seasonally adjusted annual rate of $877.8 billion, 0.3 percent above the revised September estimate of $875 billion. Residential construction was at a seasonally adjusted annual rate of 630 billion in October, 0.6 percent above the revised September estimate of $626.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $247.7 billion in October, 0.3 percent below the revised September estimate of $248.4 billion.

In October, the estimated seasonally adjusted annual rate of public construction spending was $254 billion, 1.9 percent above the revised September estimate of $249.1 billion. Educational construction was at a seasonally adjusted annual rate of $65.7 billion, 2.8 percent above the revised September estimate of $63.9 billion. Highway construction was at a seasonally adjusted annual rate of $68.1 billion, 0.2 percent below the revised September estimate of $68.3 billion.