**MNI: 5 Things We Learned From Construction Spending Data>

By Kevin Kastner and Holly Stokes

     WASHINGTON (MNI) - The following are the key points from October

construction spending data released by the Commerce Department Friday: 

     - October construction spending rose 1.4% vs +0.5% expected, while 

September construction was unrevised at a 0.3% gain and August 

construction was revised up to a 0.5% increase (prev +0.1%). 

     - The sharp October gain was driven by public construction which 

rose 3.9%, the largest gain since October 2014. Federal spending was up 

11.1%, also the largest since October 2014. State and local up 3.3%.

     - Private residential building rose 0.4%, with 1-family home 

construction up 0.3%, multi-family building down 1.6% and home building 

ex. new homes, or remodeling, up 1.4% based on an MNI calculation. 

     - Private nonresidential building up 0.9%, after declines in 

previous four months, with gains in office, lodging and manufacturing 

construction, but declines in power and commercial. 

     - The data suggest that fixed investment and government spending 

started off the fourth quarter solidly above the third quarter average. 

     ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MAUDS$,M$U$$$,MAUDR$]