Construction Spending Decreases in July

So far 2011 has been a rollercoaster year for the Construction Industry as a whole. Most recently the industry saw a spending increase in June to hit a 6-month high, only to see the most recent economic data suggest a sizable decrease in spending in July. According to McGraw-Hill Construction, there was a 10% decrease in July construction starts compared to a 15% gain in June as revealed in their article. Contradictory to this, The Associated Builders and Contractors (ABC) released their Construction Backlog Indicator which appeared to present improved data in that backlog had increased 10% in the 2^nd Quarter of 2011. Continue reading »