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Overall
construction spending
in the United States fell by 0.4 percent during September (well below
expectations of a 0.7 percent increase),
to a seasonally adjusted and annualized rate (SAAR) of $950.9 billion. The public
construction category led the decrease on both absolute (-$3.5 billion) and
percentage (-1.3 percent) terms. Also, August's spending was lowered to $955.2 billion (from the initial estimate of $961.0 billion).
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Click
here
for a discussion of September’s new residential permits, starts and
completions. Click here
for a discussion of new and existing home sales, inventories and prices.
The foregoing comments represent the
general economic views and analysis of Delphi
Advisors, and are provided solely for the purpose of information, instruction
and discourse. They do not constitute a solicitation or recommendation
regarding any investment.
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