Private Residential Spending: Up 4.7% in August from prior month
Private Non-Residential Spending: Down 0.1% in August from prior month
Total Construction Spending: Up 1.1% from July
Private Non-Residential Spending: Down 0.1% in August from prior month
Total Construction Spending: Up 1.1% from July
These numbers indicate that while residential real estate is recovering, commercial real estate lags behind. This could be due to a number of factors, including over supply and tighter credit. Currently the commercial real estate industry is expected to "continue its slump into early 2010".
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