Construction Spending: Near Cycle Low Levels Of Spending In December

by: Sold At The Top

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: