US economy may face slowdown in building boom
(MENAFN) Construction has been one of the few pockets of strength in the US economy, until recently. Construction payrolls have declined since March and spending in May rose less than 3 percent from a year earlier.
In detail, construction works witness the lowest rate since 2011. Coming after supercharged growth of 10 per cent last year.
The question now is whether the sputtering is just a blip or something more lasting that portends a significant drag on the economy?
At a quarry in Bridgeport, Texas, where rock is crushed, sorted and cleaned, it's hard to tell that the nation's construction boom may be hitting a wall.
"We're moving a lot of rock," said Dean Gatzemeier, who runs quarries in North Texas and Oklahoma for Martin Marietta Materials Inc.
In detail, construction works witness the lowest rate since 2011. Coming after supercharged growth of 10 per cent last year.
The question now is whether the sputtering is just a blip or something more lasting that portends a significant drag on the economy?
At a quarry in Bridgeport, Texas, where rock is crushed, sorted and cleaned, it's hard to tell that the nation's construction boom may be hitting a wall.
"We're moving a lot of rock," said Dean Gatzemeier, who runs quarries in North Texas and Oklahoma for Martin Marietta Materials Inc.
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