Public Works Makes Strong Gains in October

摘要

Public construction rebounded strongly October, following a very weak September, according to the U.S. Dept. of Commerce's latest seasonally adjusted annual data (see chart). Commerce estimates the public-works market grew in October at a seasonally adjusted annual rate of $282.7 billion, which is up 3.9% from the previous month's rate and 2.3% above October 2012's pace. However, on a year-to-date basis, total public construction through the first 10 months of this year was $229.8 billion, which was 2.8% below the same period of a year ago.