Today, the U.S. Census Bureau released their May read of construction spending showing near-cycle low levels of spending for residential construction while indicating a slight improvement for single family residential and total non-residential spending.On a month-to-month basis, total residential spending declined 0.3% from May falling 4.82% below the level seen in June 2010 and a whopping 65.15% below the peak level seen in 2006 while single family construction spending increased 0.27% since May falling 10.51% since June 2010 and whopping 77.62% below it's peak in 2006.
Non-residential construction spending increased 1.80% since May but declined 2.02% since June 2010 and a whopping 39.56% 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.
