October Construction Outlays Slip Despite Some Gains; Infrastructure Prospects R

Private residential spending in October was down 3.5% from September and 24% from October 2007. Private nonresidential spending fell 0.7% for the month but rose 9.1% from a year before. Public spending climbed 0.7% and 7.4%. Several major nonresidential categories rose in October: office construction 1.6% (and 8.9% compared to a year before); commercial (retail, warehouse and farm), 1.3% ( -11% from October 2007); education, 1.1% (9.5%); manufacturing, 1.0% (54%); and lodging, 0.6% (18%). Health care construction was unchanged for the month (up 3.9% from a year earlier). Declining categories included highway and street construction, -0.8% (up 5.8% from October 2007) and power, -6.0% (22%).