Construction spending rises in December(Read article summary)
Construction spending increased 2.16 percent in December 2012 climbing 24.99 percent above the construction spending level seen in December 2011.
Today, the¬†U.S. Census Bureau released their latest read of construction spending¬†showing notably better results in December with total construction spending, the residential component and the non-residential¬†component improving since November.¬†¬†
On a month-to-month basis, total residential spending increased 2.16% from November climbing 24.99% above the level seen in December 2011 while still remaining a whopping 54.44% below the peak level seen in 2006.
Single family construction spending climbed 0.77% since November rising 30.75% since¬†December 2011 but remained a whopping 69.22% below it's peak in 2006.
Non-residential construction spending increased 1.83% since November¬†climbing 5.04% above the level seen in December 2011 and remained a whopping 28.05% below the peak level reached in October 2008.