Construction Spending Dropped Slightly in July via Multifamily Executive Magazine

Construction spending in the U.S. fell slightly, by less than a percentage point, in July, to an annual rate of $834.4 billion, ending its three-months of rising numbers streak, but still 9.3% ahead of July of last year, the U.S. Census Bureau reported Tuesday.

Despite the slight downward monthly blip, so small that it could easily be erased when the July numbers are revised, construction spending for the first seven months of 2012 was 9.3% higher than the same period in 2011.

Read more...Construction Spending Dropped Slightly in July - Housing Data, Economic Conditions - Multifamily Executive Magazine