Construction spending up in October(Read article summary)
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 ‚Äď 2005.