Latest Construction Spending Data Shows Continued Slowdown

Slowing to a snail’s pace, construction spending continues to fall.  This fact will have some effects on the overall economy at some point.

“Spending on private construction was at a seasonally adjusted annual rate of $863.2 billion, 1.4 percent below the revised September estimate of $875.2 billion. Residential construction was at a seasonally adjusted annual rate of $503.7 billion in October, 2.0 percent below the revised September estimate of $514.2 billion.” See the full release Construction Spending Report Oct. 2007.