Construction Spending: March 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 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.