Construction spending up slightly in September(Read article summary)
Total residential spending on increased 0.9 percent, rising 0.1 percent above the level seen in September 2010 while remaining a whopping 66.25 percent below the peak level of spending seen in 2006.
Today, the U.S. Census Bureau released their latest read of construction spending showing near-cycle low levels of spending in September 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 0.9% rising 0.1% above the level seen in September 2010 while remaining a whopping 66.25% below the peak level seen in 2006.
Single family construction spending increased 0.5% since August but fell 0.1% since September 2010 and whopping 77.22% below it's peak in 2006.
Non-residential construction spending increased 0.28% since August climbing 5.91% since September 2010 remaining a whopping 35.84% 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.