Construction spending rose 0.3% in June. This is nothing to write home about. In a word, construction spending is practically flat.
The true state of affairs is that construction spending, at $965.7 billion, is down 10.2% from last year. Now that nothing to sneeze at but it is way off from our peak spending.
The good news is that new and existing home sales rose in June by the largest amount in eight years. But again, keep in mind that we are coming off very low numbers.



