·
The total value of construction put in place remained stalled in October
for the third straight month versus the Consensus expectation for a 0.7%
rise.
· Private residential building activity fell 0.3% for the second consecutive month as new single family building slipped (+14.4% y/y).
· "Housing and the Business Cycle" from the Federal Reserve Board can be found here.
· Nonresidential building also slipped 0.4% (+2.5% y/y) but so far this year has risen 3.8% due to huge gains in lodging (+42.8%) and retail 29.2%).
· Public construction jumped 1.2% as spending on highways & streets, nearly one third of the value of public construction spending, recovered 6.4% (4.9% y/y).
· These more detailed categories represent the Census Bureau’s reclassification of construction activity into end-use groups. Finer detail is available for many of the categories; for instance, commercial construction is shown for Automotive sales and parking facilities, drugstores, building supply stores, and both commercial warehouses and mini-storage facilities. Note that start dates vary for some seasonally adjusted line items in 2000 and 2002 and that constant-dollar data are no longer computed.