Construction spending rises in July
Construction spending increased 0.92 percent in July, with residential construction spending up 19 percent from a year ago.
Today, the U.S. Census Bureau released their latest read of construction spending showing increase in June with total private construction spending rising 0.92% from June 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 0.58% from June climbing 19.00% above the level seen in July 2012 while still remaining a whopping 50.54% below the peak level seen in 2006.
Single family construction spending increased 0.50% since June rising 31.74% since July 2012 but remained a whopping 64.25% below it's peak in 2006.
Non-residential construction spending increased 1.31% since June falling 0.29% below the level seen in July 2012 and remained a whopping 30.37% below the peak level reached in October 2008.
The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here.To add or view a comment on a guest blog, please go to the blogger's own site by clicking on paper-money.blogspot.com.