For the second month in a row (and 3rd of the last 4), US construction spending dropped in July. This dragged the year-over-year growth to just 1.8%.
The last two times construction spending growth slowed to this rate, the US economy collapsed into recession...
Ironically, according to BLS, construction jobs surged in the latest month - up 28k - the most since February?
But it's probably different this time - this time we have the internet, and eyeballs, and all that AdSpend (oh wait, didn't WPP just collapse?)