Construction Spending Collapses – Worst April Since 2009
By Tyler Durden
Following a hope-strewn bounce in February and March, US Construction Spending plunged 1.8% in April (massively worse than the expected 0.6% rise). This is the biggest monthly drop since January 2011 as while religious construction surged 9.6%, Commercial, Healthcare, and Education construction all plunged with Communications and highway building collapsing 7.7% and 6.5% respectively. We ares ure wether will be blamed but the 1.5% drop in residential construction is rather notable for an April – it is the weakest April since 2009.
Transitory?
Source: Construction Spending Collapses – Worst April Since 2009
Posted June 1st, 2016 in Uncategorized.
