A mixed November for construction(Read article summary)
Residential construction spending increased 0.39 percent from October. Non-residential construction spending declined 0.7 percent since October.
Today, the¬†U.S. Census Bureau released their latest read of construction spending¬†showing generally better results in November with total construction spending and the residential component improving while the non-residential component worsened since October.¬†¬†
On a month-to-month basis, total residential spending increased 0.39% from October climbing 22.94% above the level seen in November 2011 while still remaining a whopping 55.37% below the peak level seen in 2006.
Single family construction spending climbed 1.33% since October rising 31.76% since November 2011 but remained a whopping 69.53% below it's peak in 2006.
Non-residential construction spending declined 0.70% since October but rose 3.84% above the level seen in November 2011 and remained a whopping 30.93% below the peak level reached in October 2008.