Plunging Residential Construction—Another Canary In The Rafters

No surprise, then, how residential construction has really fallen off dating back to the same point, last May. What is increasingly like a housing bust now has residential construction spending falling at near-double digit rates for the first time in almost ten years. Construction in this category was down 9.6% (unadjusted) year-over-year during May 2019, following a revised 10.3% drop in April.