The U.S. Census Bureau reports that construction spending during July 2013 was estimated at a seasonally adjusted annual rate of $900.8 billion, 0.6% above the revised June estimate of $895.7 billion. The July figure is 5.2% above the July 2012 estimate of $856.3 billion.
Private residential construction spending was at a SAAR of $334.6 billion in July, 0.6% above the revised June estimate of $332.7 billion. Private residential construction is now up 21.8% year over year.
Private nonresidential construction spending was at a SAAR of $296.8 billion in July, 1.3% above the revised June estimate of $293.0 billion. Private nonresidential construction is now down 0.3% from a year ago.
In his first-quarter letter to investors of Greenlight Capital, David Einhorn lashed out at regulators. He claimed that the market is "fractured and possibly in the process of breaking completely." Q1 2021 hedge fund letters, conferences and more Einhorn claimed that many market participants and policymakers have effectively succeeded in "defunding the regulators." He pointed Read More
Total public construction spending was at a SAAR of $269.4 billion in July, 0.3% below the revised June estimate of $270.1 billion. Total public construction spending is now down 1.8% year over year.