Recent Updates

  • US: Regional Payroll Employment (Jun)
  • US: Household Employment for States and Regions (Jun)
  • US: GDP by Industry (Q1)
  • US: GDP by Industry (Q1)
  • Canada: Retail Trade (May), CPI (Jun)
  • Spain: International Trade Summary, Trade in Constant Prices (May), Synthetic Indicators (Jun)
  • Mexico: Employment (Jun), Construction (May)
  • Ireland: Wholesale and Producer Prices (Jun)
  • more updates...

Economy in Brief

U.S. Construction Activity Remains Unchanged
by Tom Moeller  July 3, 2017

The value of construction put-in-place held steady during May (+4.9% y/y) following a 0.7% April dip, revised from -1.4%. Earlier figures also were revised. Expectations were for a 0.3% rise in the Action Economics Forecast Survey.

Private sector construction activity declined 0.6% in May following a 0.2% dip, but it increased 6.4% from a year earlier.

Residential spending also eased 0.6% (+11.0% y/y), the first decline since April of last year. Single-family building slipped 0.3% (+8.0% y/y) after a 0.9% rise, while multi-family declined 3.3% (+3.3% y/y) following a 0.2% dip. The value of improvements eased 0.1% (+18.1% y/y) after a 0.3% rise.

Nonresidential building activity fell 0.7% (+1.3% y/y), the sixth consecutive monthly decline. Office construction rose 0.8% (+15.1% y/y). Manufacturing building declined 1.7% (-8.4% y/y) while commercial construction posted a 1.0% drop (+9.4% y/y). Health care building improved 0.8% (-2.8% y/y) and power plant construction gained 0.3% (-3.2% y/y).

Public sector building activity gained 2.1% (0.1% y/y) and made up most of April's decline. Education facility spending strengthened 5.1% (7.8% y/y), but transportation facilities construction eased 0.6% (+1.0% y/y). Highway and streets construction, which constitutes about one-third of total public building, slipped 0.9% (+2.9% 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, %) May Apr Mar May Y/Y 2016 2015 2014
Total 0.0 -0.7 0.3 4.9 6.5 10.7 11.0
  Private -0.6 -0.2 0.2 6.4 9.2 12.9 14.8
    Residential -0.6 0.5 0.8 11.0 10.5 14.2 14.4
    Nonresidential -0.7 -1.0 -0.6 1.3 7.7 11.5 15.2
  Public 2.1 -2.7 0.8 0.1 -1.2 5.1 2.0
close
large image