Construction spending increases in October

Total residential spending increased 3.36 percent from September and rose 1.95 percent above the level seen in October 2010, while remaining a whopping 64.67 percent below the 2006 peak

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    This chart shows the value (in millions) of total private residential construction put in place annually since 2004. Current rates are nearly 65 percent below peak levels seen in 2006.
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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.

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