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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 January 3, 2017
The value of construction put-in-place increased 0.9% during November following a 0.6% October gain, revised from 0.5%. Construction was up 4.1% y/y following stronger growth from 2012 through 2015. The latest rise compared to expectations for a 0.6% increase in the Action Economics Forecast Survey.
Private sector construction activity improved 1.0% (4.6% y/y) after a 0.1% October uptick. Residential building increased 1.0% (3.0% y/y) after a 1.6% improvement. Single-family building activity increased 1.8% (-0.9% y/y) after a 2.8% jump. The value of improvements rebounded 1.5% (+6.8% y/y) and made up October's 1.0% decline. Multi-family building activity was off 2.7% (+10.7% y/y), the first monthly fall since July.
Public sector building activity improved 0.8% (2.6% y/y) following three months of strong increase. Commercial construction gained 0.5% (23.4% y/y) following two months of decline, and education facility activity increased 2.1% (6.2% y/y). Highway & street construction, which is roughly one-third of the public sector total, improved 1.1% (10.5% y/y), the third straight month of strong increase.
The construction spending figures are in Haver's USECON database and the expectations reading is contained in the AS1REPNA database.
|Construction Put in Place (SA, %)||Nov||Oct||Sep||Nov Y/Y||2015||2014||2013|