Construction Spending Falls, ISM Index Holds Steady

Construction spending in July fell -0.6%, worse than the consensus estimate of -0.4% and lower than the 0.3% growth seen in June.

The ISM Index for August, meanwhile, rose to 49.9, slightly under the consensus of 50 and lower than last month’s reading, which was also 50. Any figure above 50 suggests an expansion, while a number below 50 suggests a contraction.

Graph courtesy

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