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US construction spending is showing normal growth [ClearOnMoney]

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Commentary

US construction spending is showing normal growth

1 Aug 2012 by Jim Fickett.

Today the Census Bureau released construction spending data through June. The report is unremarkable, showing that spending is growing in a normal fashion.

Construction is one of the most volatile areas of the economy; note that by December 2007, when the great recession officially began, construction spending had already dropped significantly. The current construction data, along with most other US economic data, suggest that the current economic deceleration is nowhere near turning into recession just yet.