Construction spending increased 0.2% in June, but the initial May spending estimate was raised 2.2% by the Census Bureau. Significant upward revisions were for power generation and residential remodeling, the two least well-measured sectors. Growth in the construction market is likely to outpace growth in the overall economy for an extended period. Nonetheless, the construction recovery will be slow in historical perspective with one or more month-to-month declines possible through early 2012, according to Reed Construction Data.
Source: Reed Construction Data