Saturday, September 4, 2010

US Construction Spending-has fallen 16% annualized over three months…10yr low $$

chart US Construction Spending - The value of overall construction spending put in place declined 1.0% in July and is down 7.1% annualized over three months. This is the third straight month in which construction spending has declined which is largely attributable to the decline in single-family residential construction spending resulting from the expiration of the home buyer tax credit. The decline in new private new residential construction intensified in July, with a monthly decrease of 2.4%; it has fallen 16% annualized over three months.

1 comment:

  1. But somehow 16,000 construction jobs were created per the last payroll report. Something doesn't jive.