Construction spending drops in October

Construction spending declined in October, according to the latest read from the US Census Bureau. Total residential construction spending dropped 0.6 percent from September. 

Today, the U.S. Census Bureau released their latest read of construction spending showing declines in October with total private construction spending falling since September while single family private residential construction spending and non-residential construction spending also declined on the month. 

On a month-to-month basis, total residential spending slumped 0.60% from September but still climbing 17.80% above the level seen in October 2012 remaining well below the peak level seen in 2006.

Single family construction spending declined 0.60% from September rising 17.80% since October 2012 remaining well below it's peak level reached in 2006.

Non-residential construction spending declined 0.50% from September falling 3.40% below the level seen in October 2012 and remaining a well below the peak level reached in October 2008.