Government Construction Spending Surges Most Since 2006

After 4 months of missed expectations, US Construction Spending rose 1.1% in October, beating the 0.6% expectations, and the highest MoM since May 2014. Great news… the recovery is back, right? Scratch barely below the surface of this algo-loving headline though and the unsustainable reality peaks out. US Government construction spending spiked 19.3% in October, the most since 2006… seems like we need to dig some holes and fill them in again…

Yay! Headline construction spending rose more than expected….

 

Driven by a huge spike in government construction spending…

 

And stocks love it!!

 

Charts: Bloomberg




via Zero Hedge http://ift.tt/1yHKyu3 Tyler Durden

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