Drop in August construction spending wasn't largest of 2012

10/4/2012 | SmartBrief/SmartBlog on Finance

Ed Zarenski, an estimating executive at Gilbane Building Co. makes a case that the drop in construction spending in August was not the "largest" of the year, despite some media reports. Based on his statistical analysis and understanding of the Seasonally Adjusted Annual Rate, both January and March had larger declines in spending. "Yes, August 2012 spending dropped from that in July, [b]ut it would be rare to see data climb continuously without dips, and spending had just climbed four months in a row," said Zarenski.

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