Development Spending Elevated 0.1% in September

by Calculated Threat on 11/04/2024 02:06:00 PM

This was launched on Friday. From the Census Bureau reported that general development spending decreased:

Development spending throughout September 2024 was estimated at a seasonally adjusted annual charge of $2,148.8 billion, 0.1 % above the revised August estimate of $2,146.0 billion. The September determine is 4.6 % above the September 2023 estimate of $2,055.2 billion.
emphasis added

Personal spending was unchanged and public spending elevated:

Spending on personal development was at a seasonally adjusted annual charge of $1,653.6 billion, nearly unchanged from the revised August estimate of $1,653.2 billion. …

In September, the estimated seasonally adjusted annual charge of public development spending was $495.2 billion, 0.5 % above the revised August estimate of $492.9 billion.

Click on on graph for bigger picture.

This graph exhibits personal residential and nonresidential development spending, and public spending, since 1993. Notice: nominal {dollars}, not inflation adjusted.

Residential (crimson) spending is 6.8% under the height in 2022.

Non-residential (blue) spending is 0.8% under the height in June 2024.

Public development spending is on the peak.

The second graph exhibits the year-over-year change in development spending.

On a year-over-year foundation, personal residential development 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.