Keeping you up to date on the latest data releases.
- Construction Spending
After downward revisions to July and August, private construction spending ticked up 0.6 percent (annualized rate) in September. Residential and non-residential spending both increased, 0.9 percent and 0.3 percent, respectively. Looking over the past 12-months, private construction spending is up almost 4.0 percent with non-residential spending driving the gain. Non-residential spending is up 7.4 percent from this time last year, with September marking its fourth straight annual percentage increase. Commercial, educational, transportation, and power are driving the increase while sectors like lodging and religious are struggling to break out of trend declines or flat activity. Within commercial, warehouse construction spending is the best performer, posting annual gains for the past five months with September spending up 38 percent since September 2010. On the residential side, multi-family construction (up 6.5 percent over the year) continues to outperform single-family home construction (−0.1 percent since this time last year). Home improvement spending continues on a bumpy path. After posting double-digit percentage gains in the spring, the past couple of months its been down slightly.