Mixed news for August construction
Total construction spending declined in August 2012 while single family residential construction spending improved, according to the latest data from the US Census Bureau.
Today, the U.S. Census Bureau released their latest read of construction spending showing mixed results August with total construction spending (residential and non-residential) declining while single family residential construction spending improved.
On a month-to-month basis, total residential spending increased 0.87% from July climbing 18.96% above the level seen in August 2011 while remaining a whopping 59.57% below the peak level seen in 2006.
Single family construction spending climbed 2.83% since July rising 23.05% since August 2011 but remained a whopping 72.12% below it's peak in 2006.
Non-residential construction spending declined 1.70% since July but climbed 4.55% above the level seen in August 2011 and remained a whopping 32.27% below the peak level reached in October 2008.