2013 Economic Calendar
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Construction Spending
Released On 3/1/2013 10:00:00 AM For Jan, 2013
PriorPrior RevisedConsensusConsensus RangeActual
Construction Spending - M/M change0.9 %1.1 %0.6 %-0.7 % to 1.0 %-2.1 %
Construction Spending - Y/Y change7.8 %10.0 %7.1 %

Highlights
Construction outlays fell 2.1 percent in January after a 1.1 percent increase the month before. Public construction declined 1.0 percent in the latest month while private nonresidential outlays dropped 5.1 percent. New home outlays jumped 3.3 percent although residential excluding new homes (largely renovation) declined 4.3 percent.

The latest report is positive for housing overall but negative for the public sector and nonresidential. The first likely is being supported by low mortgage rates and low supply. The latter two are likely being held back by fiscal issues of the federal government and revenue shortfalls at the state & local government level.

On a year-ago basis, overall construction was up 7.1 percent in January compared to 10.0 percent in December.

The latest report is positive for housing overall but negative for the public sector and nonresidential. The first likely is being supported by low mortgage rates and low supply. The latter two are likely being held back by fiscal issues of the federal government and revenue shortfalls at the state & local government level.

Recent History Of This Indicator
Construction spending in December jumped 0.9 percent, following a rise of 0.1 percent in November. The increase in December was led by a 2.2 percent gain in residential outlays after a 0.6 percent increase in November. Most of the latest improvement was from multifamily construction although single-family outlays also advanced. Public construction declined in the latest month. On a year-ago basis, overall construction was up 7.8 percent in December versus 9.1 percent in November.

Definition
The dollar value of new construction activity on residential, non-residential, and public projects. Data are available in nominal and real (inflation-adjusted) dollars.  Why Investors Care
 
[Chart]
Over the last year, a decline in residential outlays has pulled down year-on-year growth for overall construction outlays. Nonresidential and public outlays are positive with nonresidential actually strong.
Data Source: Haver Analytics
 

 

2013 Release Schedule
Released On: 1/22/13/14/15/16/37/18/19/310/2212/212/2
Release For: NovDecJanFebMarAprMayJunJulAugSepOct
 


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