Construction Sees Drop in Spending
Sep 3rd, 2008 | By WSJ.com: Real Estate | Category: News worldwide
Construction spending declined in July, led by another sharp drop in housing and in the construction of manufacturing plants. According to the Census Bureau, the value of spending on private nonresidential construction was at a seasonally adjusted annual rate of $416.8 billion in July, down 0.7% from June. The value of private residential construction was at a seasonally adjusted annual rate of $357.8 billion in July, down 2.3% from June.