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Monthly Construction Spending Declined in August 2022

On Monday, the US Census Bureau reported that total construction spending during August 2022 was estimated at a SAAR of $1,781.3 billion, 0.7% below the revised July estimate of $1,793.5 billion. The August figure is 8.5% above the August 2021 estimate of $1,641.6 billion.

Canadian Real GDP Edges Higher in July

Statistics Canada reported today that Canadian real GDP edged 0.1% higher in July, after recording a similar 0.1% increase in June. Growth in goods-producing industries, up 0.5%, were partially offset by declines in the services-producing industries of 0.1%.