Construction spending outlook weakens
Abstract:
Total construction spending fell 0.4% in May after it was revised up to steady in April. The May total was 10.5% below the peak level in February 2006 but only 0.5% of the decline happened in 2008. The four consecutive upward revisions to previous months suggest that the end of the decline is near, says Jim Haughey, chief economist for Reed Construction Data.
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Total construction spending fell 0.4% in May after it was revised up to steady in April. The May total was 10.5% below the peak level in February 2006 but only 0.5% of the decline happened in 2008. The four consecutive upward revisions to previous months suggest that the end of the decline is near, says Jim Haughey, chief economist for Reed Construction Data.