Construction Spending: October 2012

Includes: ITB, PKB, XHB
by: Sold At The Top

Today, the U.S. Census Bureau released their latest read on construction spending, showing better results in October, with total construction spending -- including 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 its peak in 2006.

Non-residential construction spending increased a slight 0.27% since September and rose 6.09% above the level seen in October 2011. It 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.