Construction spending increased 0.92 percent in July, with residential construction spending up 19 percent from a year ago.
Today, the U.S. Census Bureau released their latest read of construction spending showing increase in June with total private construction spending rising 0.92% from June while single family private residential construction spending and non-residential construction spending also increased on the month.
On a month-to-month basis, total residential spending increased 0.58% from June climbing 19.00% above the level seen in July 2012 while still remaining a whopping 50.54% below the peak level seen in 2006.
Single family construction spending increased 0.50% since June rising 31.74% since July 2012 but remained a whopping 64.25% below it's peak in 2006.
Non-residential construction spending increased 1.31% since June falling 0.29% below the level seen in July 2012 and remained a whopping 30.37% below the peak level reached in October 2008.