america: Why Construction Spending Matters - 09/06/12 11:15 PM
 
Did you hear the news about construction spending?  If so, were you surprised? 
The recent report by the Commerce Department did come as a surprise to many who have been eagerly watching for signs of a sustained recovery in the real estate industry. Construction spending dropped 0.9 percent to an annual rate of $834.4 billion; this was the biggest decline in a while. In an earlier survey by Reuters, economists expected construction spending to rise by 0.4% again.
The July construction report, released on Tuesday, showed total private residential construction spending fell by 1.6%, even though new single- and … (1 comments)