by Calculated Hazard on 11/01/2022 10:21:00 AM

From the Census Bureau reported that genperiodl enchancment spending elevated:

Construction spending all by way of September 2022 was estimated at a seasonally adjusted annual price of $1,811.1 billion, 0.2 % above the revised August estimate of $1,807.0 billion. The September decide is 10.9 % above the September 2021 estimate of $1,632.9 billion.
emphasis added

Private spending elevated and public spending decreased:

Spending on private enchancment was at a seasonally adjusted annual price of $1,450.3 billion, 0.4 % above the revised August estimate of $1,444.9 billion. …

In September, the estimated seasonally adjusted annual price of public enchancment spending was $360.9 billion, 0.4 % under the revised August estimate of $362.1 billion.

Click on on graph for greater picture.

This graph reveals private residential and nonresidential enchancment spending, and public spending, since 1993. Notice: nominal dollars, not inflation adjusted.

Residential (purple) spending is 35% above the bubble peak (in nominal phrases – not adjusted for inflation).

Non-residential (blue) spending is 28% above the bubble period peak in January 2008 (nominal dollars).

Public enchancment spending is 11% above The peak in March 2009.

The second graph reveals the yr-over-yr change in enchancment spending.

On a yr-over-yr basis, private residential enchancment spending is up 12.7%. Non-residential spending is up 10.5% yr-over-yr. Public spending is up 7.1% yr-over-yr.

This was above consensus expectations of a 0.5% decrease in spending; and enchancment spending for the earlier two months mixed have been revised up sharply.