Posted on 07/01/2009 7:46:49 AM PDT by Oldeconomybuyer
WASHINGTON (AP) -- Construction spending fell more than expected in May, a sign the problems facing the nation's builders are far from over.
The Commerce Department said Wednesday that construction spending dropped 0.9 percent in May, nearly double the 0.5 percent decline that economists expected. Adding to the signs of weakness, activity in the past two months was revised lower.
For May, the only strength came in nonresidential activity. Residential construction dropped sharply, and spending on federal, state and local projects also declined.
Total public construction dropped 0.6 percent, the biggest decline since a 1.7 percent fall in January. Spending on federal projects fell 0.3 percent, while spending on state and local projects dropped 0.7 percent.
(Excerpt) Read more at hosted.ap.org ...
obama is so awesome.
Now that is funny!
But for his stimilus package we’d be so much worse off. Look at all those jobs he’s saved.
There seems to be a common thread in the last few days headlines on economic news:....’falls more than expected’.
OBAMA’S FAULT!!
Gosh, think how clean the sky, air and water will be when all industry shuts down, and we return to living in caves and trees. It’s a real greenie dream about to come true.
/sarc
From http://otrans.3cdn.net/45593e8ecbd339d074_l3m6bt1te.pdf
Red dots represent reported Unemployment rate added later by a blogger on the Internet.
That is such a great graph; it clearly cuts through the lies. Now why hasn’t the state-run media shown it on the nightly news? Hmmm.....
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