Construction spending in the United States—an indicator of total spending on all types of construction—fell in August for the second month as the housing market declines further into a recession. Construction spending last month was estimated at “a seasonally adjusted annual rate of $1,781.3 billion, 0.7 percent below the revised July estimate of $1,793.5 billion,”…
US Construction Spending Drops for Second Month as Housing Recession Deepens
October 4, 2022
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Business & Marketsconstruction spendingeconomyhousing recessioninflationMarketsmulti family homesreal estaterecessionResidential constructionsingle family homesU.S. housing marketUSUS NewsUS Real Estate
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Largest Market Driven Increase in Construction Costs Driving Australian Inflation
Australian construction costs in the September quarter jumped at its highest rate in over 20 years, as the industry struggles with supply chain disruptions, material shortages, and high demand for building and renovation services. CoreLogic’s Cordell construction cost index found that residential construction costs rose 3.8 percent nationally during the three months to September, which…
Residential Construction Spending Rises in July, Boosted by Strong Single-Family Home Outlays
U.S. residential construction spending rose in July, though at a slower pace than in the prior month, as booming demand and rising prices continued to buoy the housing market. The Commerce Department said in a Sept. 1 report (pdf) that U.S. residential construction spending rose 0.5 percent in July, after advancing 0.8 percent in June….
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