Construction Spending Growth Crashes To 5-Year Lows

For the third month in a row, US construction spending dropped MoM (tumbling 0.6% in June, missing expectations of a 0.5% bounce). The overall construction spending data is now unchanged (+0.3% YoY) from a year ago - the weakest annual growth since July 2011.

 

 

Some high(low)lights include:

  • *U.S. JUNE PRIVATE CONSTRUCTION SPENDING FALLS 0.6% FROM MAY
  • *U.S. PRIVATE NON-RESIDENTIAL CONSTRUCTION FALLS MOST SINCE DEC.
  • *APRIL CONSTRUCTION OUTLAYS FELL 2.9%, REVISED FROM 2% DROP
  • *U.S. STATE, LOCAL GOVT CONSTRUCTION OUTLAYS LOWEST SINCE NOV.

But apart from that, everything is awesome.

 

Chart: Bloomberg