February construction spending was revised from a hope-filled 0.1% rise to a “it’s the weather” 0.2% drop – which theoretically should have juiced March’s data even more… but it didn’t. The 0.2% rise in Construction spending in March is the biggest miss (exp. +0.5%) since March of last year.Quite a divergence…
- *GOVERNMENT CONSTRUCTION SPENDING WEAKEST SINCE NOVEMBER 2006
- *PRIVATE RESIDENTIAL SPENDING IN U.S. STRONGEST SINCE MAY 2008
So much for that breathtaking pent-up demand surge post-weather… or we pre-suppose that is coming in April… or May
Charts: Bloomberg
via Zero Hedge http://ift.tt/R3MoUc Tyler Durden