Construction Spending Summer Report

Construction spending likely showed a slight increase in June but the gain is not expected to be enough a May decline that pushed building activity near an 11-year low.

Construction activity likely edged up by 0.1 percent in June, according to economists surveyed by FactSet. The Commerce Department will release the new report at 10 a.m. Monday.

In May, construction spending dropped 0.6 percent to a seasonally adjusted annual rate of $757.9 billion. That pace was barely above the 11-year low hit in February. It is roughly half the $1.5 trillion in annual spending considered healthy by most economists.

Analysts believe it could be another four years before construction returns to healthy levels as the effects of a severe recession and collapse in home building linger.

To read more, click here

 

Add new comment

Your Information
Your Comment

Filtered HTML

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <blockquote> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Refresh Type the characters you see in this picture. Type the characters you see in the picture; if you can't read them, submit the form and a new image will be generated. Not case sensitive.  Switch to audio verification.
Overlay Init