Today, the U.S. Census Bureau released their November read of construction spending showing near-cycle low levels of spending for residential construction while indicating a continued and notable decline for non-residential spending.On a month-to-month basis, total residential spending increased 0.66% from October but dropped 11.08% below the level seen in November 2009 and a whopping 65.16% below the peak level seen in 2006 while single family construction spending increased 0.64% since October but declined 5.23% since November 2009 and whopping 77.24% below it's peak in 2006.
Also, non-residential spending declined 0.10% since October, dropping 21.35% since November 2009 and a whopping 39.93% 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.
