Constuction Spending: April 2011

Today, the U.S. Census Bureau released their March read of construction spending showing near-cycle low levels of spending for residential construction while indicating a slight improvement for non-residential spending.

On a month-to-month basis, total residential spending increased 3.14% from March falling 12.15% below the level seen in April 2010 and a whopping 65.68% below the peak level seen in 2006 while single family construction spending declined 0.95% since March falling 12.83% since April 2010 and whopping 77.75% below it's peak in 2006.

Non-residential construction spending increased 0.50% since March but declined 8.50% since April 2010 and a whopping 41.16% 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.