US construction spending has probably passed the bottom

8 Feb 2012 by Jim Fickett.

Last week the Census Bureau published construction spending data through December. I've been pretty tentative up until now; however it does look quite likely now that we have passed the bottom in spending. In fact, all three of the main categories look either stable or rising. If Europe crashes all this could change in a hurry, but for now this is one more sign that post-stimulus, organic recovery is taking hold.