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A mixed November for construction

Residential construction spending increased 0.39 percent from October. Non-residential construction spending declined 0.7 percent since October.

By Guest blogger / January 2, 2013

This chart shows private residential construction spending since 1993 since 2004. In November 2012, total residential spending remained 55.37 percent below the peak level seen in 2006.

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Today, the U.S. Census Bureau released their latest read of construction spending showing generally better results in November with total construction spending and the residential component improving while the non-residential component worsened since October.  

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Writer, The PaperEconomy Blog

'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.

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On a month-to-month basis, total residential spending increased 0.39% from October climbing 22.94% above the level seen in November 2011 while still remaining a whopping 55.37% below the peak level seen in 2006.

Single family construction spending climbed 1.33% since October rising 31.76% since November 2011 but remained a whopping 69.53% below it's peak in 2006.

Non-residential construction spending declined 0.70% since October but rose 3.84% above the level seen in November 2011 and remained a whopping 30.93% below the peak level reached in October 2008.

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