Econoday Report: Construction Spending 1, 2005

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Construction Spending

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

Released on 6/1/05 For Apr 2005

Construction Spending, M/M change
Actual	0.5%
Consensus	0.6%
Consensus Range	0.4% to 2.0%

Highlights
Construction spending was up 0.5 percent in April, slightly lower than the 0.6 percent expected by analysts. March spending increase was revised upward to 0.6 percent from 0.5 percent originally reported. Total private spending was up 0.8 percent while total public spending declined by 0.4 percent. Residential spending climbed 0.6 percent for the second month in a row while private nonresidential spending was up 1.3 percent after increasing by 1 percent in March.

The data continue to reflect strong construction activity that is spurred by a low interest environment.

Market Consensus Before Announcement
Construction spending increased 0.5 percent in March. Housing starts improved in the past three months and this could help boost construction expenditures in upcoming months. In addition, we could see increases in nonresidential spending as well.

Construction spending Consensus Forecast for Apr 05: 0.6 percent
Range: 0.4 to 2.0 percent

Trends

Construction spending has moderated significantly over the past year despite strenth in the housing market. Residential construction is not growing as rapidly as it did even though current levels are high. Nonresidential construction has begun to improve, but gains are still modest.

Data Source: Haver Analytics

2005 Release Schedule

Released On: 1/3 2/1 3/1 4/1 5/2 6/1 7/1 8/1 9/1 10/3 11/1 12/1

Released For: Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct