Mixed news for August construction
Today, the U.S. Census Bureau released their latest read of construction spending showing mixed results August with total construction spending (residential and non-residential) declining while single family residential construction spending improved.
On a month-to-month basis, total residential spending increased 0.87% from July climbing 18.96% above the level seen in August 2011 while remaining a whopping 59.57% below the peak level seen in 2006.
Single family construction spending climbed 2.83% since July rising 23.05% since August 2011 but remained a whopping 72.12% below it's peak in 2006.
Non-residential construction spending declined 1.70% since July but climbed 4.55% above the level seen in August 2011 and remained a whopping 32.27% below the peak level reached in October 2008.
