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December 01, 2016US CONSTRUCTION SPENDING, OCTOBER 2016 
US construction spending increased by 0.5 per cent in October compared to September, to a seasonally adjusted annual rate of $1,172 billion. Non-residential construction spending declined by 0.3 per cent while residential spending increased by 1.8 per cent. Public spending increased by 2.8 per cent while private spending decreased by 0.2 per cent.
Compared to October of 2015, total construction spending was up 3.4 per cent, with increased residential (4.6 per cent) non-residential spending (2.6 per cent) and an increase in private spending (4.7 per cent) offset by a decrease in public spending (-0.6 per cent).
Year-to-date spending from January to October 2016 was up 4.8 per cent compared to January to October 2015, with increases across residential (6.0 per cent) and non-residential (4.1 per cent) spending as well as private spending (6.7 per cent), with a decline in public spending (-0.5 per cent).
US construction spending, especially residential spending, is an important indicator for Nova Scotia's wood exports. Though not a perfect predictor, US residential construction spending and the value of Nova Scotia's wood exports follow similar directions over time.
Source: US Census Bureau
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