CX - There Is An Investment Opportunity In The Construction Spending Data
When I was looking through the Construction Spending data the other day I found something I found interesting, and it has led to an investment opportunity for us today. The data was very tepid at the headline level, what I found interesting was the story told by the sub-data within the report.
To quickly recap; headline construction spending rose a mere 0.1% in August, far below the expected 0.4%, with the YOY comparison running a cooler than expected 6.5%. At face value, you would assume that housing is a big part of the spending, regardless