Constuction Spending: July 2011

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

On a month-to-month basis, total residential spending declined 1.4% but increased 4.44% above the level seen in July 2010 while remaining a whopping 63.31% below the peak level seen in 2006.

Single family construction spending increased 0.06% since June falling 8.67% since July 2010 and whopping 77.65% below it's peak in 2006.

Non-residential construction spending declined 0.35% since June but increased 5.56% since July 2010 remaining a whopping 37.52% 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.