- Spain: Services Sector Activity, New Orders and Turnovers (Feb)
- Finland: PPI, Domestic Supply Prices (Mar)
- US: NABE Business Conditions Survey (Q1)
- Japan: Index of Business Conditions (Feb-Final)
- Indonesia: Non-Oil and Gas Trade (Feb); Taiwan: Labor Market (Mar)
- Egypt: IP (Feb)
- more updates...
Economy in Brief
Fresh Six-Year PMI Highs for Euro Area
The 'fresh six-year high' is a pleasant surprise that continues, but...
Philadelphia Fed Factory Conditions Soften
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index fell to 22.0 during April...
U.S. Leading Economic Indicators Suggest Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (3.5% y/y) during March...
U.S. Initial Unemployment Insurance Applications Increase
Initial unemployment claims for unemployment insurance rose to 244,000 during the week ended April 15 (-5.1% y/y)...
Japan's 'Trade Trends' Stabilize on an Unstable Foundation
Japan trade trends, broadly considered, seem to be stabilizing...
U.S. Mortgage Loan Applications Fall
The MBA total Mortgage Applications Volume Index declined 1.8% last week (-24.9% y/y)...
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|