Monday, October 3, 2011
August construction spending came in higher than expected (+1.4% vs. -0.2%), but that was only good enough to keep overall construction spending roughly flat for most of this year. Not much happening here, and the residential sector continues to represent a minuscule 2% of the total economy, about one-third of what it was in 2005. The best we can say is that there appears to have been no further deterioration in the construction sector.
Posted by Scott Grannis at 7:37 AM