2017 Economic Calendar
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Construction Spending  
Released On 4/3/2017 10:00:00 AM For Feb, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Construction Spending - M/M change-1.0 %-0.4 %1.0 %0.7 % to 1.8 %0.8 %
Construction Spending - Y/Y change3.1 %3.0 %

Construction spending rose a very solid 0.8 percent in February and was led by residential construction where spending on single-family homes rose 1.2 percent for a second straight month and multi-family spending rose 2.0 percent following January's 4.0 percent surge.

Nonresidential construction is holding back the total, down 0.3 percent in the month and reflecting weakness in the transportation, commercial, and manufacturing components. Federal spending was also down for a second straight month, 2.8 percent lower following a 5.6 percent drop in January.

Year-on-year rates show the negative pull from government spending which was down 8.8 percent at the Federal level and down 8.0 percent at the state & local level. Total yearly spending is up a modest 3.0 percent with single-family homes up 3.4 percent and multi-family units, reflecting the high cost of housing and demand for rentals, again leading the way up 10.6 percent.

The construction sector hasn't been on fire but continues to post passable numbers, and momentum may begin to build at least for the housing sector as permits for both single- and multi-family units are on the climb.

Consensus Outlook
Construction spending improved through the second half of last year but remains soft, still under 5 percent annual growth. Spending on new single-family homes has been improving while multi-family spending has remained strong. Public building has been very weak but not office and commercial spending which has also been strong. The Econoday consensus for February construction spending calls for a 1.0 percent gain vs January's 1.0 percent 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

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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