Construction spending increases in February

Construction spending increased 2.17 percent in February 2013, according to the US Census. That's 20.08 percent above the construction spending level seen in February 2012.

Yesterday, the U.S. Census Bureau released their latest read of construction spending showing improvement in February with total construction spending, residential and non-residential construction spending increasing on the month. 

On a month-to-month basis, total residential spending increased 2.17% from January climbing 20.08% above the level seen in February 2012 while still remaining a whopping 55.15% below the peak level seen in 2006.

Single family construction spending climbed a notable 4.27% since January rising 34.14% since February 2012 but remained a whopping 66.40% below it's peak in 2006.

Non-residential construction spending increased 0.44% since January and rose 6.08% above the level seen in February 2012 and remained a whopping 27.37% below the peak level reached in October 2008.