2017 Economic Calendar
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Construction Spending  
Released On 6/1/2017 10:00:00 AM For Apr, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Construction Spending - M/M change-0.2 %1.1 %0.5 %-0.3 % to 0.8 %-1.4 %
Construction Spending - Y/Y change3.6 %5.0 %6.7 %

Volatility once again hits the construction spending report where an unexpected sharp decline in April, at minus 1.4 percent, is offset by a giant upward revision to March which now stands at plus 1.1 percent vs an initial 0.2 percent dip.

The residential side of the report, at minus 0.7 percent in April, shows the first decline in 7 months, pulled lower by a sharp drop in residential improvements and spending on new condos that offset a solid 0.8 percent gain for new single-family homes.

The non-residential side shows a 0.6 percent decline for private building, hit by contraction for factories and power plants, and a 2.0 percent dip for public building with both highways and education lower.

This report is yet another bad result for April as the upward revision to March pulled spending out of the second quarter and into the first. And it's the second quarter that is in focus right now and housing, including sales and starts and now construction, have all been disappointing.

Consensus Outlook
Construction spending has been flat and held back by government spending on public buildings. Private nonresidential spending has been mostly positive while residential spending has been clearly solid and led by multi-family units. Against March's 0.2 percent decline, the Econoday's consensus is calling for a 0.5 percent rebound in April.

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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