Here Comes Construction Spending...

construction

Construction spending for May is out at 10 a.m. ET.

Economists polled by Bloomberg are looking for construction spending to rise 0.6% month-over-month.

This compares with a 0.4% rise in April.

Investors watch this number because it offers insights into the housing market and into homebuilder stocks.

It also helps gauge the health of the economy as companies and the government invest in new infrastructure when they are feeling confident about the economy.

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