September 1, 2010
U.S. construction spending falls to lowest point in a decade
Construction spending in the U.S. tumbled in July to the lowest level in a decade, as the housing market struggles in the weak economy and without a popular home-buying tax credit.
The Commerce Department says construction activity in the U.S. dropped one per cent in July, the third straight monthly decline.
And government revisions showed much weaker activity than previously reported for May and June.
The report was the latest evidence that the economy was weakening significantly in the summer.
That has raised concerns about the possibility of the country falling back into a recession.
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These projects have been selected from 267 projects with a total value of $4,935,993,413 that Reed Construction Data Building Reports reported on Friday.
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| ALEX’S ECONOMICS BLOG |
Reed Construction Data Canada’s Chief Economist Alex Carrick discusses current developments in the North American economic environment with emphasis on the construction industry.
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