2017 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

Construction Spending  
Released On 1/3/2017 10:00:00 AM For Nov, 2016
PriorPrior RevisedConsensusConsensus RangeActual
Construction Spending - M/M change0.5 %0.6 %0.6 %0.1 % to 0.8 %0.9 %
Construction Spending - Y/Y change3.4 %4.1 %

Highlights
Construction had been lagging through most of 2016 but, like the factory sector, appears to have picked up steam going into year-end. Spending rose 0.9 percent in November which just tops Econoday's high estimate and is the best reading since June.

Residential spending rose 1.0 percent in the month on top of October's 1.6 percent gain. The gain here is concentrated in single-family homes which offset a monthly dip for multi-family units which otherwise have been leading the residential sector. Home improvements added to the spending in November.

Non-residential spending was also strong, up 0.9 percent with most categories showing gains led by office construction and transportation construction. Public spending was also solid including a 3.1 percent monthly jump in Federal spending.

The breadth of gains is most impressive in this report, one that will give a lift to fourth-quarter GDP estimates.

Recent History Of This Indicator
What had looked to be a flat year for construction spending turned higher in October with a 0.5 percent gain and a year-on-year rate of plus 3.4 percent. October's results included sharp upward revisions for the prior two months in this often very volatile report. Residential spending showed October strength for both single-family and multi-family homes with nonresidential spending mostly slowing. Forecasters see November's headline coming in with a second straight strong gain, at 0.6 percent.

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
 
 

2017 Release Schedule
Released On: 1/32/13/14/35/16/17/38/19/110/211/112/1
Release For: NovDecJanFebMarAprMayJunJulAugSepOct
 


powered by  [Econoday]