Construction-spending-report meaning

A monthly economic statistic report that measures the amount of construction spending for home building, which is the major component of the report. Home building is a widely watched indicator of activity, because as new homes are built, a significant amount of follow-on consumer spending is created for durable goods such as carpets, washers, dryers, dishwashers, and so on, as well as non-durable items such as dishes, sheets, and other furnishings. Construction spending data is produced by the Department of Commerce. In addition to residential spending, the data also tracks spending on government projects and office buildings.
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