2017 Economic Calendar
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Construction Spending  
Released On 3/1/2017 10:00:00 AM For Jan, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Construction Spending - M/M change-0.2 %0.1 %0.5 %0.2 % to 0.8 %-1.0 %
Construction Spending - Y/Y change4.2 %3.1 %

Construction spending fell a sharp 1.0 percent in January but the weakness is in public spending, not residential spending where gains are substantial. Spending on new single-family homes rose 1.1 percent in the month with multi-family spending up 2.2 percent. Year-on-year, single-family spending continues to improve with a 2.3 percent gain while the multi-family category remains very strong at 9.0 percent.

Now the weakness in the report. Public spending posted wide declines including the Federal component, down 7.4 percent in the month, and the state & local component, down 4.8 percent. Totals on educational buildings and highways & streets were all weak.

Private spending on nonresidential building was unchanged in the month with gains for power and manufacturing offsetting declines for transportation, office buildings as well as commercial construction.

But public spending looks to get a boost down the road with new fiscal initiatives while the strength of the report, residential investment, is very solid and looks to improve further given gains in related permits. The housing sector has gotten off to a bumpy start this year though this report is one of strength.

Consensus Outlook
Construction spending improved through the second half of last year but remains only moderate, still under 5 percent annual growth. Growth in nonresidential construction has been offset by slower growth in both residential spending and also public construction. The Econoday consensus for January construction spending calls for a 0.5 percent gain vs December's 0.2 percent decline.

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

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

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