A mixed November for construction
Residential construction spending increased 0.39 percent from October. Non-residential construction spending declined 0.7 percent since October.
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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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.
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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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