US construction spending had its biggest 12-month gain in September. This was on a record pace of public projects and the biggest rise in residential building in more than six years.
The US commerce department said yesterday spending on construction projects rose 0,8% to $940,3bn.
This is good news for the rest of the world and it is especially good for the resource based economies. The weak signals from the South African economic data also show signs of a recovery in economic activity.
Neil@directinvestment.biz
Tuesday, November 3, 2009
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