Construction spending: Nonresidential projects hit hardest

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.
 

Add/view comments on this post.

------------------------------

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.