October 31, 2019
U.S. Economy is Slowing, and So is Nonresidential Construction Spending
20/20 Vision Required to See 2020
Issue 28 – Second Quarter 2019
The headlines are replete with notions of yield curve inversion, collapsing interest rates, potential recessions in Germany, Italy, South Korea, Brazil, and Russia, faltering consumer sentiment, and volatile financial markets. Many of these indications suggest that additional economic softness is forthcoming. Already, U.S. economic growth has slipped, whether measured by gross domestic product or the rate of monthly job growth.
Table of Contents
- U.S. Economy is Slowing, and So is NonresidentialConstruction Spending
- Joe’s View
- Exhibit 1. Private Nonresidential Construction Spending, June 2019
- Exhibit 2. Nonresidential Spending, June 2019
- Exhibit 3. Nonresidential Construction Spending, June 2015 through June 2019
- Exhibit 4. Construction Employment Growth, 20 Largest U.S. Metropolitan Areas July 2018 v. July 2019
