Construction Spending: January 2014

by: Sold At The Top

Today, the U.S. Census Bureau released their latest read of construction spending showing mixed results for January. Total private construction spending and single family construction spending rose since December, while non-residential construction spending declined over the same period.

On a month-to-month basis, total residential spending increased 1.10% from December, climbing 14.60% above the level seen in January 2013 and remaining well below the peak level seen in 2006.

Single family construction spending increased 2.30% from December, rising 21.00% since January 2013, and remaining well below its peak level reached in 2006.

Non-residential construction spending declined 0.20% from December, rising 9.70% below the level seen in December 2012, and remaining well 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.