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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Terry Maloney who wrote (253681)	8/2/2003 8:42:58 AM
From: MythMan	Read Replies (3) \| Respond to of 436258

yeah but their stocks sure aren't getting hammered like one would expect. Both F & GM mgmt at spouting off their mouths like a tech company that things are great and the future is so bright yada yada yada...

To: Terry Maloney who wrote (253681)	8/2/2003 8:43:23 AM
From: Giordano Bruno	Respond to of 436258

Construction spending flat in June Outlays reach $864B, short of views, as residential building dips, while public construction rises. August 1, 2003: 11:01 AM EDT WASHINGTON (Reuters) - U.S. construction spending was flat in June, falling short of expectations, as outlays for private residential construction fell, the government said Friday. Construction outlays were a seasonally adjusted $864.3 billion in June, the Commerce Department said, statistically unchanged from $864.1 billion in May. Analysts polled by Reuters had been expecting a 0.3 percent increase. Private residential construction, by far the largest construction spending category, slipped 0.4 percent to a seasonally adjusted $434.8 billion in June. It was the fourth monthly decline in a row for that category. Public construction spending rose 1 percent to $212.2 billion, and federal government spending was at a record high level of $17.8 billion. Private spending to build offices rose 3.1 percent, while commercial construction spending climbed 2.2 percent. Spending on power plants and factories fell. Residential construction and housing have boomed as mortgage interest rates at lows not seen since the early 1960s lured buyers. Mortgage rates have risen in recent weeks on anticipation of a strengthening of U.S. economic recovery. money.cnn.com