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Construction spending climbs in August

Construction spending increased 1.21 percent from July and 20.46 above the level seen in August 2012, according to the US Census Bureau.

By Guest blogger / October 22, 2013

This chart shows the value of private residential construction put in place over the past decade. Construction spending is still nearly 50 percent below peak levels seen in 2006.

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Today, the U.S. Census Bureau released their latest read of construction spending showing increase in August with total private construction spending rising since July while single family private residential construction spending and non-residential construction spending also increased 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 increased 1.21% from July climbing 20.46% above the level seen in August 2012 while still remaining a whopping 49.70% below the peak level seen in 2006.

Single family construction spending increased 1.63% since July rising 30.52% since August 2012 but remained a whopping 63.49% below it's peak in 2006.
Non-residential construction spending increased 0.13% since July climbing 1.61% above the level seen in August 2012 and remained a whopping 29.56% 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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