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Construction spending increases in October

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(Read caption) 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.

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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.