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Overall
construction spending
in the United States jumped 0.8% during May (nearly double the +0.5% expected),
to a seasonally adjusted and annualized rate (SAAR) of $1.036 trillion. The private
non-residential component led the way with a $5.7 billion (1.5%) increase.
Outlays on public projects rose by $2.0 billion (+0.7%) while the private residential
component brought up the rear with a more meager $1.1 billion (+0.3%).
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Click
here
for a discussion of May’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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