Monday, February 02, 2015

Construction Spending: December 2014

Today, the U.S. Census Bureau released their latest read of construction spending showing mixed results for December with total private construction spending and single family construction spending increasing while non-residential construction spending declined over the month.

On a month-to-month basis, total residential spending increased 0.3% from November but declined 4.0% below the level seen in December 2013 and remained well below the peak level seen in 2006.

Single family construction spending increased 1.2% from November rising a notable 11.0% since December 2013 but remaining well below it's peak level reached in 2006.

Non-residential construction spending declined 0.2% from November but rose 5.3% above the level seen in December 2013 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.