Wednesday, the U.S. Census Bureau released the latest read of construction spending showing near cycle low levels of spending in December for residential construction, while indicating continued improvement for total non-residential spending.
On a month-to-month basis, total residential spending increased .077% from November and rose 5.29% above the level seen in November 2010, while remaining a whopping 63.34% below the peak level seen in 2006.
Single family construction spending increased 1.53% since November and rose 3.62% since December 2010, but remained an incredible 76.41% below its peak in 2006.
Non-residential construction spending increased remarkably by 3.26% since November, climbing 11.89% above the level seen in December 2010 but remained an unbelievable 32.32% below the peak level reached in October 2008.
The following charts (click for larger dynamic versions) 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 – 2005.
Click to enlarge: