Lumber Futures Dump As US Construction Spending Slumps – Worst June In 18 Years

Lumber futures prices are limit down today, falling to their lowest price since Dec 2017, erasing much of the post-tariff surge in prices as US construction spending unexpectedly tumbles in June.

Lumber prices are free falling back towards pre-tariff levels…

https://www.zerohedge.com/sites/default/files/inline-images/2018-08-01_7-38-46.jpg?itok=WEVTZg02

And with home starts, permits, and sales all weaker…

https://www.zerohedge.com/sites/default/files/inline-images/2018-08-01_7-45-25.jpg?itok=knD1u4BA

It is no surprise that US construction spending tumbled in June…

https://www.zerohedge.com/sites/default/files/inline-images/2018-08-01_7-25-56.jpg?itok=TlGGU9Qz

Bearing in mind the upward revision for May, this is the worst construction spending drop for a June since the year 2000…

https://www.zerohedge.com/sites/default/files/inline-images/2018-08-01_7-22-40.jpg?itok=zAgBawuQ

Still seem like a sustainable 4% economy?

Source: ZeroHedge

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