Construction cranes are pictured at sunset in Los Angeles, California, U.S., January 27, 2020. Picture taken January 27, 2020. REUTERS/Mario Anzuoni
The Commerce Department said on Monday construction spending decreased 0.2%. Data for November was revised up to show construction outlays rising 0.7% instead of increasing 0.6% as previously reported. For all of 2019, construction spending fell 0.3%, the first annual decline since 2011, after rising 3.3% in 2018.
Spending on nonresidential structures fell 0.5% in November. The government in its fourth-quarter GDP report last week said spending on nonresidential structures contracted in 2019 by the most since 2016. Outlays on private nonresidential structures have been depressed by a manufacturing downturn due to trade tensions and cheaper energy products.
Trump gave all our tax revenues to his rich friends and family
It'll be China's fault. Or the Mexicans. Or Biden.
Where is all the benefits to the economy touted by Republicans that they said would come from the lousy GOPTaxScam bill that they ran through Congress and Trump signed?
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