Construction spending rises in December(Read article summary)
Construction spending increased 2.16 percent in December 2012 climbing 24.99 percent above the construction spending level seen in December 2011.
Today, the U.S. Census Bureau released their latest read of construction spending showing notably better results in December with total construction spending, the residential component and the non-residential component improving since November.
On a month-to-month basis, total residential spending increased 2.16% from November climbing 24.99% above the level seen in December 2011 while still remaining a whopping 54.44% below the peak level seen in 2006.
Single family construction spending climbed 0.77% since November rising 30.75% since December 2011 but remained a whopping 69.22% below it's peak in 2006.
Non-residential construction spending increased 1.83% since November climbing 5.04% above the level seen in December 2011 and remained a whopping 28.05% below the peak level reached in October 2008.