- Japan: First Ten Days Trade (Mar), International Trade, Foreign Banks Foreign Banks in Japan (Feb)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts/Statistical Balance Sheet, Foreign Currency Assets, Liabilities, and Currency Flows (Feb); Australia: Flow of Funds (Q4), Job Vacancies (Q1)
- Korea: Building Permits (Feb); Philippines: LFS (Q3)
- US: IIP (Q4)
- more updates...
Economy in Brief
U.S. Mortgage Loan Applications Remain Little Changed; Variable Rate Apps Surge
The MBA total Mortgage Market Volume Index slipped 0.8% last week (-12.4% y/y)...
La Dolce Vita? Italian Confidence Bumps Higher
Italian business and consumer confidence moved higher in March...
U.S. Consumer Confidence Improves Significantly
The Conference Board Consumer Confidence Index for March strengthened 8.2% (30.7% y/y) to 125.6...
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
German Federal Debt Levels Fall
German debt level fell outright in Q4 2016 as the ratio of federal debt-to-GDP also fell...
NABE 2018 Forecast: Modest Improvement in Economic Growth & Higher Inflation
The NABE expects 2.5% real U.S. economic growth in 2018 compared to 2.3% forecast for 2017...
by Tom Moeller July 1, 2016
The value of construction put-in-place declined 0.8% (+2.8% y/y) during May following a 2.0% April drop, revised from -1.8%. A 0.7% increase was expected in the Action Economics Forecast Survey. Data back to 2014 were revised.
Building activity in the private sector eased 0.3% (+4.7% y/y), led by a 0.7% drop (+3.9% y/y) in nonresidential construction after a 0.1% shortfall. Educational building declined 4.5% (+2.9% y/y) and commercial construction fell 1.6% (+3.2% y/y). Increasing was amusement & recreation building by 3.2% (20.1% y/y) and transportation construction by 1.7% (2.4% y/y).
The value of residential building activity was unchanged (+5.4% y/y) after a 3.5% drop. Single-family construction declined 1.3% (+6.3% y/y), down for the fifth month in the last six. Multi-family construction activity rose 1.8% (23.9% y/y) following a 2.0% decline, and the value of improvements rose 1.4% (-1.9% y/y) after a 6.8% shortfall.
The value of public sector building activity declined 2.3% (-2.6% y/y), down for the third straight month. Transportation building activity declined 4.6% (-6.5% y/y) and highways & streets construction eased 0.2% (-1.1% y/y). Increasing was the value of office construction by 4.2% (-11.3% y/y).
The construction spending figures are in Haver's USECON database and the expectations figure is contained in the AS1REPNA database.
|Construction Put in Place (SA, %)||May||Apr||Mar||May Y/Y||2015||2014||2013|