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Spending on private residential construction declines

Spending on private residential construction went down 0.11 percent between March and April, according to a US Census Bureau report released Monday. 

By Guest blogger / June 3, 2013

This chart shows total spending on private residential construction from 1993 to 2013. Since peaking in 2006, spending on private residential construction has declined. While spending has slowly begun to pick back up, it is still 55.37 percent below 2006 figures.

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Today, the U.S. Census Bureau released their latest read of construction spending showing mixed results in April with total private construction spending declining while single family private residential construction spending and non-residential construction spending improved on the month.  

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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 declined 0.11% from March climbing 18.78% above the level seen in April 2012 while still remaining a whopping 55.37% below the peak level seen in 2006. 

Single family construction spending rose 1.42% since February rising 38.63% since April 2012 but remained a whopping 64.76% below its peak in 2006.

Non-residential construction spending rose 2.19% since March and rising a slight 0.65% above the level seen in April 2012 and remained a whopping 29.60% below the peak level reached in October 2008. 

The following chart (click for larger dynamic versions) shows private 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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