Construction spending increases in October
Today, the U.S. Census Bureau released their latest read of construction spending showing near-cycle low levels of spending in October for residential construction while indicating a improvement for total non-residential spending.
On a month-to-month basis, total residential spending increased 3.36% from September and rose 1.95% above the level seen in October 2010 while remaining a whopping 64.67% below the peak level seen in 2006.
Single family construction spending increased 0.57% since September and rose 1.03% since October 2010 but remained a whopping 77.14% below it's peak in 2006.
Non-residential construction spending increased 1.34% since September climbing 7.55% above the level seen in October 2010 but remained a whopping 34.41% below the peak level reached in October 2008.
The following charts (click for larger dynamic versions) show private residential construction spending, private residential single family construction spending and private non-residential construction spending broken out and plotted since 1993 along with the year-over-year, month-to-month and peak percent change to each since 1994 and 2000 – 2005.
