Posted To: MND NewsWire
Construction spending, both public and private, dropped 1.3 percent in June . Spending was at a seasonally adjusted annual rate of $1.21 trillion compared to the May estimate of $1.22 trillion, an upward revision of 0.3 percent from the original number. June's spending remained 1.6 percent higher than a year earlier. The report from the U.S. Census Bureau came in way below analysts' estimates . Those polled by Econoday estimated spending would range from "unchanged" to a 1.0 percent gain; the consensus was 0.5 percent. Econoday said of the report that it had much in common with the month's personal income and outlays report also issued on Tuesday in that it had "lack of any apparent life." On a non-adjusted basis, there was $109.38 billion in construction put in place during the month compared...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2veWklI
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