Meet the New Year. Same as the Old Year.
Not what I wanted to see first day back.
This is a Bloomberg news agency story report via Business Week but pretty much every business publication is on the story.
Construction spending in the U.S. fell for the seventh straight month in November to the lowest level in more than six years, led by declines in homebuilding and fewer commercial projects.
The 0.6 percent drop followed a revised 0.5 percent decrease in October, previously reported as unchanged, Commerce Department figures showed today in Washington. Construction spending was down 13 percent in November from the same month a year earlier.
I’m going for the half-full approach. These numbers are from last year and reflect what was. I’m not prepared to guess what the next Commerce Department report will say, that limb is far too weak and slippery to walk out on. But enough with the pessimism. I will wait patiently for newer data.
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