Construction spending: residential at four-month low
The US Census Bureau's December report shows small drops in residential and non-residential construction spending since November.
The chart shows total spending on residential construction from 2000 to 2010. The December report shows a 4.12 percent drop from the previous month, which puts spending at 66.53 percent below the 2006 peak.
SoldAtTheTop
Today, the U.S. Census Bureau released their December read of construction spending showing near-cycle low levels of spending for residential construction while indicating a continued and notable decline for non-residential spending.
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On a month-to-month basis, total residential spending declined 4.12% from November remaining 10.79% below the level seen in December 2009 and a whopping 66.53% below the peak level seen in 2006 while single family construction spending increased 0.50% since November but declined 6.37% since December 2009 and whopping 77.18% below it's peak in 2006.
Also, non-residential spending declined 0.53% since November, dropping 17.53% since December 2009 and a whopping 38.90% 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.
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