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Construction spending rises in December

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(Read caption) Construction spending remains 54.44 percent below the peak level seen in 2006.

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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.

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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.

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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.