Construction Spending: December 2012

Includes: IYR
by: Sold At The Top

Today, the U.S. Census Bureau released its latest read of construction spending, showing notably better results in December. Total construction spending, the residential component, and the non-residential component improved since November. On a month-to-month basis, total residential spending increased 2.16% from November, climbing 24.99% above the level seen in December 2011, while still remaining a whopping 54.44% below the peak level seen in 2006.

Single-family construction spending climbed 0.77% since November, rising 30.75% since December 2011, but remained a whopping 69.22% below its peak in 2006. Non-residential construction spending increased 1.83% since November, climbing 5.04% above the level seen in December 2011, and remained a whopping 28.05% below the peak level reached in October 2008.

The following charts show private residential construction spending, private residential single-family construction spending, and private non-residential construction spending broken out and plotted since 1993. They also show the year-over-year, month-to-month, and peak percent change to each since 1994 and 2000-05.

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