2015 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

Construction Spending  
Released On 9/1/2015 10:00:00 AM For Jul, 2015
PriorPrior RevisedConsensusConsensus RangeActual
Construction Spending - M/M change0.1 %0.7 %0.8 %0.2 % to 1.4 %0.7 %
Construction Spending - Y/Y change12.0 %13.7 %

Led by strength in single-family homes, construction spending rose 0.7 percent in July while an upward revision to single-family homes added to a sharp upward revision to June, up 6 tenths and also at plus 0.7 percent. Year-on-year, total construction spending was up 13.7 percent in July.

Private residential construction rose 1.3 percent in July with construction spending on single-family homes up 2.1 percent vs a 0.5 percent gain in June that was initially reported at a 0.3 percent contraction. Spending on the more volatile multi-family category, which is much smaller in scale, fell 2.2 percent after spiking 5.5 percent in June. Year-on-year, both categories show robust gains, at 15.8 percent for single-family homes and 21.2 percent for multi-family.

Turning to private nonresidential construction, spending rose 1.5 percent in the month. In gains that belie concerns over weakness in business investment, manufacturing was very strong at plus 4.7 with power and transportation both at plus 2.1 percent in the month. But spending on public construction was negative, at minus 3.0 percent for educational buildings and minus 0.2 percent for highways & streets.

Housing and construction, which are domestic sectors insulated for global volatility, are posting some of the best numbers of any sectors in the economy right now and look to give 2015 substantial support.

Consensus Outlook
Construction spending is expected to rise a sharp 0.8 percent in August following a very soft 0.1 percent rise in July which was held back by an unexpected decline in single-family homes. Housing starts were up in July which should help spending while non-residential building is expected to bounce back from a June dip.

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
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

2015 Release Schedule
Released On: 1/22/23/24/15/16/17/18/39/110/111/212/1
Release For: NovDecJanFebMarAprMayJunJulAugSepOct

powered by  [Econoday]