Wednesday, February 1, 2012

Constuction Spending: December 2011

Today, the U.S. Census Bureau released their latest read of construction spending showing near-cycle low levels of spending in December for residential construction while indicating continued improvement for total non-residential spending.

On a month-to-month basis, total residential spending increased .077% from November and rose 5.29% above the level seen in November 2010 while remaining a whopping 63.34% below the peak level seen in 2006.

Single family construction spending increased 1.53% since November and rose 3.62% since December 2010 but remained a whopping 76.41% below it's peak in 2006.

Non-residential construction spending increased a whopping 3.26% since November climbing 11.89% above the level seen in December 2010 but remained a whopping 32.32% 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.