Economic News Blog
Posted by: Steven Kline, Jr. 8. November 2014

Construction Spending Grows at Second Slowest Rate Since December 2011

According to the Census Bureau, the value of construction put in place in September 2014 was $88,251 (millions of real dollars). Compared to one year ago, spending in September was up just 1.0%. This was a little faster growth than the revised data for August, which had a growth rate of just 0.4%. These are the two slowest months of monthly growth in total construction spending since December 2011. Except for October, 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 January. 

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

Comments are reviewed by moderators before they appear to ensure they meet Gardner Business Media’s submission guidelines.
blog comments powered by Disqus