September construction spending flat from August, up 7.2 percent year-on-year

Construction spending was flat in September following an upwardly revised 0.8 percent jump in August (up from 0.1 percent). Construction spending increased 7.2 percent on a year-on-year basis.

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June construction spending fell by largest amount in over a year, but previous months' totals revised upwards

Construction spending fell 1.1 percent in June, the largest decline since April 2017. However, data for May was revised up to show construction outlays rising 1.3 percent instead of the previously reported 0.4 percent gain, and April's outlays increased 1.7 percent instead of the previously estimated 0.9 percent.

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May construction spending rose 0.4 percent from April, up 4.5 percent year-on-year

May construction spending rose 0.4 percent from April, and was up 4.5 percent year-on-year.  For the first five months of the year, it was up 4.3 percent year-on-year.

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April construction spending up 7.6 percent year-on-year, supported largely by new homes

April spending on new home construction rise by its highest amount in 24 years (+4.5%), and overall construction spending rose to a record level of $1.31 trillion.  This new spending level was up 7.6% year-on-year and 1.8% from the previous month.

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March construction spending dipped 1.7 percent from February but still up 3.6 percent year-on-year

Construction spending during March 2018 was estimated at a seasonally adjusted annual rate of $1,284.7 billion, 1.7 percent below the revised February estimate but 3.6 percent above the March 2017 estimate. During the first three months of this year, construction spending was 5.5 percent above the same period in 2017.

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January construction spending flat from December but up 3.2 percent year-on-year

Construction spending was unexpectedly flat in January as a surge in investment in public construction projects was offset by a decline in private outlays. However, spending was up 3.2 percent year-on-year.

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December construction spending up fifth straight month to record high

December construction spending was up 0.7% from November and 2.6% year-on-year. This was the fifth monthly gain in a row and a record high annual rate of $1.25 trillion. For all of 2017, construction spending grew 3.8% to $1.23 trillion, with residential spending up 10.4%.

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November construction spending rose 0.8 percent to all-time high of $1.257 trillion

November construction spending rose 0.8 percent to an all-time high annual rate of $1.257 trillion, with private residential projects soaring 1.0 percent to the highest level since February 2007.  This increase was in line with a recent jump in homebuilding and supports the view that housing would boost economic growth in the fourth quarter after being a drag to gross domestic product since the April-June period.

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October construction spending jumps at highest rate in five months

October construction spending increased 1.4 percent to $1.24 trillion, the swiftest advance in five months. Outlays on public construction projects jumped 3.9 percent, the largest gain since 2014. Spending on state and local government construction projects climbed 3.3 percent, while federal government construction spending soared 11.1 percent.

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September construction spending rose 0.3 percent, but private construction fell 0.4 percent

September construction spending increased 0.3 percent from August to $1.22 trillion and was up 2.0 percent on a year-on-year basis, although that rise was due to public spending. Investment on private construction projects fell 0.4 percent, the third straight decline.

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August construction spending rebounded 0.5 percent from July, up 2.5 percent year-on-year

August construction spending rose 0.5 percent to $1.21 trillion after two months of declines, and was up 2.5 percent year-on-year.  Hurricanes Harvey and Irma did not appear to have impacted the construction spending data,  as the responses from the Texas and Florida areas affected by the storms were "not significantly lower than normal."

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Construction spending fell 0.6 percent in July to nine-month low

U.S. construction spending unexpectedly fell 0.6 percent in July, hitting a nine-month low to $1.21 trillion amid a steep decline in investment in private structures.

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June construction spending dipped slightly from May, but YTD is up 4.8 percent over 2016

Construction spending during June 2017 was estimated at a seasonally adjusted annual rate of $1,205.8 billion, 1.3 percent below the revised May estimate of $1,221.6 billion. The June figure is 1.6 percent above the June 2016 estimate of $1,186.4 billion. During the first 6 months of this year, construction spending amounted to $577.0 billion, 4.8 percent above the $550.5 billion for the same period in 2016.

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Construction spending flat in May, residential fell 0.6 percent

Private residential construction fell 0.6% in May, the first decline in that category since April 2016 and its biggest decline since a 0.6% drop in July 2014. Non-residential construction declined 0.7%, the fifth straight monthly decline for the category.

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Construction spending dipped 1.4 percent in April but still up 5.8 percent YTD from 2016

Spending on construction sagged in April as a strong start to the year started to falter, falling 1.4 percent from March.  However, a 0.2% decline in March was revised to a 1.1% monthly gain. Spending so far in 2017 is 5.8% higher than in the same period a year ago.

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Construction spending drops 0.6 percent in June, mostly due to non-residential projects

U.S. construction spending fell for a third straight month in June with spending on nonresidential construction dropping by the largest amount in six months.  Some analysts believe warmer-than-normal winter weather caused builders to move up the start of some projects, causing the second quarter to look weaker.

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BuilderBytes' MetroIntelligence Economic Update for 7/7/16

Please click here to see the edition of BuilderBytes for 7/7/16 on the Web.

In this issue of the MetroIntelligence Economic Update, we covered the following indicators:

• Construction spending unexpectedly fell 0.8 percent in May
• Manufacturing sector index registered growth in May for fourth straight month
• Service sector economy index rebounded strongly in June
• Factory orders declined one percent in May, but order backlogs grew
• Corelogic HPI shows May home prices rose 5.9 percent year-on-year and 1.3 percent from April

Want to advertise in this three-times-per-week newsletter and reach over 130,000 readers? Contact the editor at nslevin@penpubinc.com.

Construction spending unexpectedly fell 0.8 percent in May

Construction spending in the U.S. unexpectedly decreased in the month of May, falling 0.8 percent to an annual rate of $1.143 trillion.

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Construction spending dipped 1.8 percent in April from March but still up 4.5 percent year-on-year

Following a strong March, construction spending dipped 1.8 percent in April while residential spending fell 1.5 percent.  However, overall spending is still 4.5 percent higher than in April 2015.

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Construction spending rose in March to highest level since October 2007

Construction spending rose 0.3 percent in March after a 1 percent gain in February, raising total spending to $1.14 trillion per year, the highest level since October 2007.

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