Constuction Spending: August 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 both single family residential and total non-residential spending.

On a month-to-month basis, total residential spending increased 0.68% rising 6.76% above the level seen in August 2010 while remaining a whopping 64.84% below the peak level seen in 2006.

Single family construction spending increased 0.83% since July but fell 3.45% since August 2010 and whopping 77.38% below it's peak in 2006.

Non-residential construction spending increased 0.19% since July climbing 7.83% since August 2010 remaining a whopping 35.93% 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.