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Overall
construction spending
in the United States rose by 0.4% during December (against expectations
of a 0.7% increase), to a seasonally adjusted and annualized rate (SAAR) of $982.1
billion. Private construction spending edged up 0.1%, with outlays for power
projects falling 1.0% and spending on transportation dropping 1.4%. Outlays on
residential projects rose 0.3%. Residential spending was lifted by gains in
both single- and multi-family homes as well as renovations. Spending on public
construction projects increased 1.1% in December, and continues to be much
stronger than the private sector.
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Click
here
for a discussion of December’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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