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Construction activity up statewide and nationally in October

By: Jeff McDonald//December 3, 2013//

Construction activity up statewide and nationally in October

Jeff McDonald//December 3, 2013//

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National spending rose nearly 1 percent in October following a slight drop in September, according to data released Monday by the U.S. Census Bureau. Total construction activity for October was $908.4 billion – up 0.8 percent from September, when construction spending totaled $901.2 billion, according to the report.

The national data mirrors construction activity in Oregon, where seasonally adjusted hiring rose from 75,600 jobs in September to 76,400 jobs in October – about a 1 percent increase, according to the Oregon Employment Department. Year-over-year, construction hiring in October was 9.2 percent higher, according to the state data.

Statewide, building permits also rose sharply from 688 in September to 824 in October – a 20 percent increase, according to data collected from the Federal Reserve Bank of St. Louis. That number is up 13 percent from October 2012.

“The data would suggest that clearly we’re seeing the same trends in residential activity that we’re seeing nationally,” said Timothy Duy, a University of Oregon professor of economics and director of the Oregon Economic Forum. “There have been an increased number of permits and increased hiring as a consequence.”



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