Today, the U.S. Census Bureau released its latest read of construction spending, showing declines in October. Total private construction spending fell since September, and 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 it still climbed 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 but remaining well below its 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 well below the peak level reached in October 2008. The following charts 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 2000-05.