U.S. construction executives surveyed by Dun & Bradstreet in July reported a notable slowdown in industry growth compared to last month, as well as a year ago. The sector is also less optimistic about the August through October period.
Reports of cost and availability of labor, equipment and building materials as factors limiting production has decreased or remained steady from last month. Therefore it appears the waning house demand is the primary cause of the current slowdown. The industry is observing signs of a long expected downturn rather than a breather driven by a lack of available materials.