Thursday, July 1, 2010

Construction Disappoints

BusinessWeek details:

Construction spending in the U.S. fell in May for the first time in three months as homebuilders cut back and work on factories and transportation structures decreased.

The 0.2 percent drop was less than forecast and brought spending down to $841.9 billion, Commerce Department figures showed today in Washington. The government revised the April increase down to 2.3 percent, less than previously estimated.
The chart below details the change (in some cases collapse) in sub-components of non-residential construction over the past 12 months.


Source: Census