- Retail Trade, Household Consumption (Feb), Population (Feb)
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- Business Sentiment Survey (Mar)
- Korea: Building Permits (Feb); Philippines: LFS (Q3); Thailand: PPI (Mar-Press)
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Economy in Brief
U.S. Mortgage Loan Applications Remain Little Changed; Variable Rate Apps Surge
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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 February 1, 2017
The value of construction put-in-place slipped 0.2% during December following an unrevised 0.9% November increase. Construction was up 4.2% y/y following stronger growth from 2012 through 2015. The latest decline disappointed expectations for a 0.2% increase in the Action Economics Forecast Survey.
Private sector construction activity improved 0.2% (6.3% y/y) after a 1.0% November jump. Residential building increased 0.5% (3.7% y/y) after a 1.1% gain. Multi-family building strengthened 2.8% (11.7% y/y) after a 0.8% dip. Single-family building activity increased 0.5% (0.3% y/y) following a 2.1% jump. The value of improvements eased 0.6% (+6.6% y/y) following two months of 0.3% growth. Nonresidential building activity remained unchanged (+9.2% y/y) following a 0.8% increase. Office building increased 2.0% (35.3% y/y), while commercial construction gained 0.7% (12.3% y/y). To the downside, factory sector building fell 3.5% (-5.9% y/y) and educational constructions was off 2.1% (+18.9% y/y).
Public sector building activity declined 1.7% (-1.8% y/y), the first decline since July. Power plant construction declined 4.4% (-27.5% y/y). Commercial construction weakened 1.1% (+5.2% y/y), and education facility activity declined 2.2% (+1.5% y/y). Highway & street construction, which is roughly one-third of the public sector total, eased 0.6% (+1.5% y/y).
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, %)||Dec||Nov||Oct||Dec Y/Y||2016||2015||2014|