Construction spending slumps in June
Construction spending in the US declined in June, according to the US Census Bureau. Total residential spending declined 0.3 percent from May, although construction spending is 7.4 percent higher in June compared to last year.
The US Census Bureau released their latest read of construction spending showing slumping results for June with total private construction spending, single family construction spending and non-residential construction spending all declining over the month.
On a month-to-month basis, total residential spending declined -0.3 percent from May climbing 7.4 percent above the level seen in June 2013 and remaining well below the peak level seen in 2006.
Single family construction spending declined 1.40 percent from May rising 8.5 percent since June 2013 remaining well below it's peak level reached in 2006.
Non-residential construction spending declined 1.6 percent from May but rose 11.2 percent above the level seen in June 2013 and remaining a well below the peak level reached in October 2008.
The charts 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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