US construction spending show mixed results in May(Read article summary)
The US Census Bureau released the latest read on construction spending Tuesday, showing a mixed bag for May. Both total private construction spending and single family construction spending declined, but non-residential construction spending increased.
Today, the US Census Bureau released their latest read of construction spending showing mixed results for May with total private construction spending and single family construction spending declining from April while non-residential construction spending improved over the same period.
On a month-to-month basis, total residential spending declined 1.5 percent from April climbing 7.0 percent above the level seen in May 2013 and remaining well below the peak level seen in 2006.
Single family construction spending declined 1.40 percent from April rising 10.9 percent since May 2013 remaining well below it's peak level reached in 2006.
Non-residential construction spending increased 1.1 percent from April but rose 10.7 percent above the level seen in May 2012 and remaining a well below the peak level reached in October 2008.
The following charts 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.