by Calculated Danger on 11/04/2024 02:06:00 PM
This was launched on Friday. From the Census Bureau reported that total building spending decreased:
Building spending throughout September 2024 was estimated at a seasonally adjusted annual fee of $2,148.8 billion, 0.1 p.c above the revised August estimate of $2,146.0 billion. The September determine is 4.6 p.c above the September 2023 estimate of $2,055.2 billion.
emphasis added
Non-public spending was unchanged and public spending elevated:
Spending on personal building was at a seasonally adjusted annual fee of $1,653.6 billion, just about unchanged from the revised August estimate of $1,653.2 billion. …
In September, the estimated seasonally adjusted annual fee of public building spending was $495.2 billion, 0.5 p.c above the revised August estimate of $492.9 billion.
Click on on graph for bigger picture.
This graph reveals personal residential and nonresidential building spending, and public spending, since 1993. Notice: nominal {dollars}, not inflation adjusted.
Residential (purple) spending is 6.8% under the height in 2022.
Non-residential (blue) spending is 0.8% under the height in June 2024.
Public building spending is on the peak.
The second graph reveals the year-over-year change in building spending.
On a year-over-year foundation, personal residential building spending is up 4.1%. Non-residential spending is up 3.5% year-over-year. Public spending is up 7.0% year-over-year.
This was near consensus expectations of no change in spending.Â
