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Construction spending increases in February

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(Read caption) Construction spending increased 2.17 percent from January 2013, according to the latest data from the US Census Bureau.

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Yesterday, the U.S. Census Bureau released their latest read of construction spending showing improvement in February with total construction spending, residential and non-residential construction spending increasing on the month. 

On a month-to-month basis, total residential spending increased 2.17% from January climbing 20.08% above the level seen in February 2012 while still remaining a whopping 55.15% below the peak level seen in 2006.

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Single family construction spending climbed a notable 4.27% since January rising 34.14% since February 2012 but remained a whopping 66.40% below it's peak in 2006.

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Non-residential construction spending increased 0.44% since January and rose 6.08% above the level seen in February 2012 and remained a whopping 27.37% below the peak level reached in October 2008.