Tuesday, July 01, 2014

Construction Spending: May 2014

Today, the U.S. 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% from April climbing 7.0% above the level seen in May 2013 and remaining well below the peak level seen in 2006.

Single family construction spending declined 1.40% from April rising 10.9% since May 2013 remaining well below it's peak level reached in 2006.

Non-residential construction spending increased 1.1% from April but rose 10.7% above the level seen in May 2012 and remaining a well 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.