Construction Spending: January 2013

Includes: ITB, IYR, REZ, XHB
by: Sold At The Top

Today, the U.S. Census Bureau released its latest read of construction spending, showing mixed results in January. Total construction spending and non-residential construction spending declined, while single-family residential construction spending improved. On a month-to-month basis, total residential spending declined 0.02% from December climbing 22.05% above the level seen in January 2012, while still remaining a whopping 54.97% below the peak level seen in 2006.

Single-family construction spending climbed a notable 3.62% since December, rising 30.21% since January 2012, but remained 68.00% below its peak in 2006. Non-residential construction spending declined a whopping 5.08% since December, but still climbed 3.95% above the level seen in January 2012 and remained 27.36% 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, along with the year-over-year, month-to-month, and peak percent change to each since 1994 and 2000-05.