The Commerce Department reported this week that total construction spending fell in September by 0.4% on a seasonally adjusted annualized basis. Economists had guessed that the figure would rise by 0.5%. This was the largest decline in the seasonally finagled headline number in 9 months.
Construction Spending Is A Lagging Indicator and It's Sinking
You need to login to view this content.
David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.