Today, the U.S. Census Bureau released its latest read of construction spending showing mixed results in March, with total private construction spending and private residential construction spending improving while non-residential construction spending declined. On a month-to-month basis, total residential spending increased 0.40% from February climbing 18.24% above the level seen in March 2012, while still remaining a whopping 56.40% below the peak level seen in 2006.
Single-family construction spending rose 1.59% since February, rising 37.60% since March 2012 but remaining a whopping 65.57% below its peak in 2006. Non-residential construction spending declined 1.55% since February and rising 2.75% above the level seen in March 2012. It remained a whopping 28.82% 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.