Recent Updates

  • Thailand: Public Finance (Apr); China: Consumer Confidence, International Trade Final (May)
  • Qatar: Consumer Confidence (Q1)
  • *** Netherland's GDP Rebased to Chained 2015 Euros. We are Currently Working on Processing These Changes. **
  • Belgium: Business Survey (Jun)
  • Canada: CPI (May), Retail Trade (Apr)
  • more updates...

Economy in Brief

U.S. Construction Spending Nudges Up
by Tom Moeller  August 1, 2011

The construction sector was not in as dire straights as previously shown, but growth still was negligible. The value of construction spending during June inched up 0.2% following similarly small gains in prior months, when declines were earlier indicated. Consensus expectations as indicated by Action Economics were for a 0.1% rise in the June level of spending.

Higher private sector building led the June increase as nonresidential building jumped 1.8% after its upwardly revised 1.2% May gain. The rise was led by 4.0% increases both in manufacturing (-11.8% y/y) and communication (+2.5% y/y). Health care construction followed with a 2.3% increase (-3.0% y/y) and lodging rose 1.1% (-27.0% y/y).

Residential building activity slipped 0.3% as multi-family building fell 2.8% (-10.4% y/y). Spending on improvements slipped 0.5% (+8.1% y/y) but single-family construction rose all of 0.3% (-10.6% y/y).

Reflecting budget shortfalls, public construction activity continued down by 0.7% (-9.6% y/y), the eighth decline in nine months. Highways and streets building fell 1.6% (-10.4% y/y) but sewerage & waste disposal rose 1.9% (-8.1% y/y).

The construction put-in-place figures are available in Haver's USECON database. The expectations figure is contained in Haver's AS1REPNA database.

Construction Put in Place (%) Jun May Apr Y/Y 2010 2009 2008
Total 0.2 0.3 0.7 -4.7 -11.3 -15.3 -7.5
 Private 0.8 0.2 2.4 -1.7 -15.2 -22.4 -12.2
   Residential -0.3 -0.8 4.9 -2.1 -2.9 -29.9 -29.0
   Nonresidential 1.8 1.2 0.1 -1.3 -24.0 -16.0 10.5
 Public -0.7 0.4 -2.0 -9.6 -3.9 2.1 6.6
close
large image