- 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 September 1, 2016
The value of construction put-in-place remained little changed during July (+1.5% y/y) following a 0.9% June rise, revised from -0.6%. Despite the recent m/m stability, y/y growth in the value of construction activity has been weakening sharply. A 0.5% July increase was expected in the Action Economics Forecast Survey.
Building activity in the private sector improved 1.0% (4.4% y/y), led by a 1.7% increase (7.1% y/y) in nonresidential construction which followed a 1.6% rise. June & May figures were revised sharply upward. Office building jumped 4.6% (30.3% y/y) and commercial construction increased 1.2% (13.5% y/y). Factory sector building rose 3.9% (-5.1% y/y), but amusement & recreation construction fell 3.9% (+15.4% y/y).
The value of residential building activity improved 0.3% (1.9% y/y). Single-family construction eased 0.2% (+1.7% y/y), down for the sixth month this year. Multi-family construction activity fell 0.6% (+19.8% y/y), down for the third month in four. Offsetting these declines was a 1.5% rise (-3.8% y/y) in the value of improvements, the third consecutive increase.
The value of public sector building activity declined 3.1% (-6.5% y/y), the fourth fall in five months. Commercial building declined 12.5% (-19.5% y/y) and power construction fell 27.1% (-31.7% y/y). Offsetting these shortfalls was a 0.3% improvement (-1.4% y/y) in highways and streets construction, and a 2.5% gain (1.9% y/y) in health care building.
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, %)||Jul||Jun||May||Jul Y/Y||2015||2014||2013|