- Sweden: Consumer Confidence, Business Tendency Survey, Public Finance (Mar)
- Spain: Mortgage Market (Jan), Order Book Forecast (Mar)
- Italy: ISTAT Business & Consumer Survey Press Release (Mar)
- Germany: Business Registrations & Deregistrations (Dec), Import & Export Prices (Feb), IAB Labor Market Barometer (Mar)
- Vietnam: GDP (Q1), CPI, IP, International Trade, Passenger & Cargo Traffic Statistics, Manufacturing Sales and Inventories, International Visitor Arrivals (Mar); Korea: Economic Sentiment
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Economy in Brief
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...
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...
by Carol Stone, CBE March 1, 2017
The value of construction put-in-place fell 1.0% in January (+3.1% y/y). This decline did follow upward revisions to December and November, with December now up 0.1% versus -0.2% reported initially, and November up 1.5%, revised from 0.9%. The latest decline compares to expectations in the Action Economics Forecast Survey for a 0.5% increase.
Private sector construction activity increased 0.2% (7.3% y/y) in January after December's 0.5% rise. Residential building grew 0.5% (5.9% y/y) after a 0.7% gain. Multi-family building gained 2.2% (9.0% y/y) after a 0.9% rise. Single-family building was up 1.1% (2.3% y/y) following an 0.8% increase. The value of improvements fell 1.0% (+10.8% y/y) after a 0.4% rise in December. Nonresidential building activity was unchanged in January (+8.9% y/y) following a 0.3% increase. Office construction decreased 0.5% (33.9% y/y), as did commercial construction (11.9% y/y); both had been up markedly in December, offices by 1.7% and commercial, 2.0%. Manufacturing sector construction basically stabilized with a 0.6% rise (-6.8% y/y) after December's 5.3% drop. Power plant construction increased 1.4% (+5.8% y/y) following a 2.1% rise in December.
Public sector building activity dropped 5.0% in January (-9.0% y/y) after a 1.4% decrease in December. Declines were widespread. Among the largest categories, educational facility spending was down 2.7% (+1.8% y/y) after a 0.9% decrease in December. Transportation facilities building declined 8.1% (-11.7% y/y), following a modest 0.5% rise in December. And highways and streets, about one-third of total public construction, was down 3.3% in the latest month (-10.1% y/y) after December's 2.7% decline.
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, %)||Jan||Dec||Nov||Jan Y/Y||2016||2015||2014|