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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: MythMan who wrote (253892)8/4/2003 3:09:10 PM
From: Giordano Bruno  Read Replies (1) of 436258
 
U.S. finds error in June construction spending data By Greg Robb
WASHINGTON (CBS.MW) -- The U.S. government said Monday that it has uncovered an error in the tabulation of the June construction spending report. Based on the correct information, the Commerce Department said construction on homes, hospitals and highways actually rose 0.3 percent in June to a $872.5 billion annual rate. This is stronger than the initial estimate released last Friday that construction spending was flat in the month. The closely-watched private-sector figure was unchanged at a $660.3 billion rate in June, up from the previous estimate of a 0.3 percent decline. Residential construction rose 0.1 percent at a $443 billion rate, up from the initial estimate of a 0.4 percent drop from May. Public construction was not revised. Government spending rose 1 percent to $212.2 billion. The overall June spending figure is 2.0 percent above the June 2002 level, up from the previous estimate of a 1.1 percent year-over-year increase, the department said. For the first 6 months of 2003, construction spending totaled $411.0 billion, 1.9 percent above the same period in 2002. This is stronger than the initial estimate of $409.3 billion, or 1.5 percent above the same period in 2002. The government did not disclose many details behind the incorrect data, only saying that it was caused by a "processing error."

Lol
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