- US: Advance Trade & Inventories (Feb)
- Sweden: Retail Trade, PPI, International Trade (Feb); Iceland: CPI (Mar)
- Turkey: International Reserves (Feb); Mauritius: Wage Rate Index, LFS (Q4); Saudi Arabia: Non-Oil Foreign Trade (Jan); Palestine: BOP (Q4); UAE: Fuel Prices (Apr); Israel: Construction Starts & Completions (Q4); South Africa: Construction Survey (Q1); Tanzania: Trade (Q4)
- Brazil: PPI (Feb)
- more updates...
Economy in Brief
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
by Tom Moeller October 3, 2016
The value of construction put-in-place fell 0.7% (-0.3% y/y) during August following a 0.3% July dip, revised from little change. The value of construction spending has been moving sideways since the middle of last year, following strong gains from 2012 through 2015. A 0.3% August increase had been expected in the Action Economics Forecast Survey.
Building activity in the private sector eased 0.3% (+2.7% y/y), reflecting a 0.3% dip (+1.4% y/y) in residential construction which followed a 0.5% rise. Single-family building fell 0.9% (-1.5% y/y), pushing it down 5.7% below the peak nine months ago. The value of improvements eased 0.3% (+1.5% y/y). To the upside, the value of multi-family building jumped 2.4% (13.9% y/y).
Nonresidential building activity declined 0.4% (+4.2% y/y) following a 1.0% jump. It was the first drop since April. Office building jumped 2.3% (28.0% y/y) while amusement construction improved 2.1% (18.8% y/y). Offsetting these gains was a 2.0% drop (+6.9% y/y) in commercial construction, and a 1.4% drop (-7.4% y/y) in factory construction.
The value of public sector building activity declined 2.0% (-8.8% y/y), the fifth decline in the last six months. Transportation building declined 8.8% (-13.5% y/y). Highways & streets construction fell 2.9% (-8.3% y/y), off 12.3% from its January peak. Education building improved 0.4% (-0.8% y/y), and office construction ticked 0.1% higher (-3.7% 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, %)||Aug||Jul||Jun||Aug Y/Y||2015||2014||2013|