Construction spending up in October
Total residential spending increased a notable 3 percent from September 2012 climbing 22.6 percent above the level seen in October 2011, according to the US Census Bureau.
Today, the U.S. Census Bureau released their latest read of construction spending showing better results in October with total construction spending with both residential and non-residential components improving since September.
On a month-to-month basis, total residential spending increased a notable 3.00% from September climbing 22.60% above the level seen in October 2011 while still remaining a whopping 56.50% below the peak level seen in 2006.
Single family construction spending climbed a notable 3.61% since September rising 31.52% since October 2011 but remained a whopping 69.97% below it's peak in 2006.
Non-residential construction spending increase a slight 0.27% since September and rose 6.09% above the level seen in October 2011 and remained a whopping 30.13% 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.