Construction spending climbs in August
Today, the U.S. Census Bureau released their latest read of construction spending showing increase in August with total private construction spending rising since July while single family private residential construction spending and non-residential construction spending also increased on the month.
On a month-to-month basis, total residential spending increased 1.21% from July climbing 20.46% above the level seen in August 2012 while still remaining a whopping 49.70% below the peak level seen in 2006.
Single family construction spending increased 1.63% since July rising 30.52% since August 2012 but remained a whopping 63.49% below it's peak in 2006.
Non-residential construction spending increased 0.13% since July climbing 1.61% above the level seen in August 2012 and remained a whopping 29.56% 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.
