Construction Spending in U.S. Fell Twice as Much as Forecast | WHAT REALLY HAPPENED


Construction Spending in U.S. Fell Twice as Much as Forecast

Construction spending in July fell twice as much as forecast, led by a slump in homebuilding that will depress U.S. economic growth.

The 1 percent drop brought spending to $805.2 billion, the lowest level in a decade, after a revised 0.8 percent drop in June that wiped out a previously estimated gain, Commerce Department figures showed today in Washington. Spending on federal government projects fell by the most in a year.

Webmaster's Commentary: 

We are not in a "recession", as those in Washington would like to characterize what's happening with the economy right now; we are in a full-on, melt-down depression.

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