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.