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2008 Economic Calendar |
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 7/1/05 For May 2005 | ||||||||||
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Highlights
Construction expenditures fell 0.9 percent in May after a 1.1 percent drop in April and a 0.2 percent drop in March. Today's figures incorporate benchmark revisions back to 1998. Residential construction expenditures fell 1.7 percent -- due primarily due a decline in multi-family homes as well as to additions and alterations. Construction spending on new single family housing did increase modestly.
Nonresidential construction spending declined 1.6 percent after posting gains in the two previous months. This sector has trailed the residential sector: it is up 5 percent versus a year ago while residential construction expenditures are up 7.8 percent from a year ago.
On the whole, these figures are somewhat weaker than expected.
Construction spending increased 0.5 percent in April. While housing starts are not declining, neither are they showing strong signs of increasing. Thus, they are likely to add less and less in upcoming months to ongoing construction expenditures.
Construction spending Consensus Forecast for May 05: 0.5 percent
Range: 0.0 to 0.8 percent
![[Chart]](chart.gif)
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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. |
| 2005 Release Schedule | ||||||||||||||||||||||||||
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