Economic News Blog
Posted by: Steven Kline, Jr. 3. October 2014

Construction Spending Grows at Slowest Rate since December 2011

According to the Census Bureau, the value of construction put in place in August 2014 was $89,274 (millions of real dollars). Compared to one year ago, spending in August was up just 1.1%. That was the slowest rate of month-over-month growth since December 2011. And, the month-over-month rate of growth has generally decelerated since January. As a result of the slower month-over-month growth, the annual rate of growth appears to have peaked and has slowed to its slowest rate of growth since March. 

Real construction spending is a good leading indicator for construction materialshardware, and HVAC industrial production.

 

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