June Construction Spending Preview
June Construction spending is expected to decline 0.3% after a 0.4% drop last month. In May, the y-o-y drop was 6.8%. Private residential construction fell 1.6% with single-family units down 3.4%. Y-o-Y, Private Residential Construction is down 27%. Private non-residential construction decreased 1.6% in April while public construction increased 0.4%.
Related data:
* June New Home Sales down 0.6%
* June Housing Starts up 9.1%, June Building Permits up 11.6% (data inflated by changes in NYC permit laws)