Residential, as always, is immune.
People have to live somewhere, whether they rent or buy.
* * * * * J B K * * * * *
San Francisco
Construction spending in the U.S. unexpectedly increased in March, propelled by gains in state and local government projects.
The 0.2 percent increase brought spending to $847.3 billion, and followed a revised 2.1 percent drop in February that was larger than previously estimated, Commerce Department figures showed today in Washington. The value of private projects dropped to the lowest level in 11 years.
http://www.bloomberg.com/apps/news?pid=20601087&sid=algW1yTJqQfE&pos=2
