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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 6/1/06 For Apr 2006 | ||||||||||||
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Highlights
Construction spending dipped 0.1 percent in April following an unrevised 0.9 jump in March. Private construction dipped 0.1 percent while public construction fell 0.2 percent. Residential construction fell 1.1 percent with single-family homes falling a sharp 1.6 percent. On the plus side was nonresidential construction, which rose 2.5 percent following a solid 0.6 percent rise in March. Nonresidential outlays have been quite healthy all year and are up 12.2 percent from a year ago. Lodging, manufacturing, and amusement & recreation building outlays were particularly robust in April. Public highway construction also rose. However, the overall decline, the first in a year and centered in single-family homes, is likely to firm expectations for further slowing in the home market this year.
Today's outlays numbers indicate that business investment in structures will continue to be robust in second quarter GDP while housing will moderate.
Construction spending increased 0.9 percent in March, posting the ninth consecutive monthly rise. April construction could be down based on the recent declines in housing starts.
Construction Spending Consensus Forecast for Apr 06: 0.2 percent
Range: -0.8 to +0.7 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. |
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