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.
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