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

Construction Spending  
Released On 7/3/2017 10:00:00 AM For May, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Construction Spending - M/M change-1.4 %-0.7 %0.5 %0.0 % to 0.9 %0.0 %
Construction Spending - Y/Y change6.7 %5.5 %4.5 %

Spring 2017 was not the greatest for the nation's housing sector where data have been mixed at best. Permits have been down and spending data are flat to down with construction spending unchanged in May which hits the very lowest estimate in Econoday's consensus range.

And the weakness is in residential spending, down 0.6 percent overall and including declines for single-family homes, residential improvements, and especially in May for multi-family units.

Private nonresidential spending fell 0.7 percent, with declines in transportation, manufacturing, and commercial. An offset is public nonresidential, up sharply after 2 prior months of declines with the gain centered in education, up 5.1 percent, as roads fell 0.9 percent for a second straight dip.

Public spending in May aside, the slowing in construction spending is not a positive signal for the housing sector nor for second-quarter GDP. The housing sector moved higher at the beginning of the year but has stumbled since.

Consensus Outlook
A report known for its large monthly swings, construction spending is expected to bounce up to a consensus 0.5 percent gain in May from a very sharp 1.4 percent April decline. Weakness in home improvements and condos during April offset gains in single-family homes. On the nonresidential side, private spending has been moderate and government spending flat.

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

powered by  [Econoday]