Construction spending mixed in January(Read article summary)
Total residential construction in January was down 0.02 percent from December. Single family construction climbed 3.62 percent in January, but non-residential spending dropped 5.08 percent during that period.
Today, the U.S. Census Bureau released their latest read of construction spending showing mixed results in January with total construction spending and non-residential construction spending declining while single family residential construction spending improved.
On a month-to-month basis, total residential spending declined 0.02% from December climbing 22.05% above the level seen in January 2012 while still remaining a whopping 54.97% below the peak level seen in 2006.
Single family construction spending climbed a notable 3.62% since December rising 30.21% since Janaury 2012 but remained a whopping 68.00% below it's peak in 2006.
Non-residential construction spending declined a whopping 5.08% since December but still climbing 3.95% above the level seen in January 2012 and remained a whopping 27.36% below the peak level reached in October 2008.