Recent Updates
- Markit PMI: Manufacturing Survey - Australia (Sep)
- Euro area: Flash Consumer Confidence (Oct), ECB Banking Lending Survey (Q4)
- US: Philadelphia Fed Nonmfg Business Outlook (Oct); Richmond Fed Mfg & Service Sector Surveys (Oct)
- Spain: Bank Lending Survey (Q4), International Trade Summary, Construction Permits (Aug)
- Macao: Visitor Arrivals (Sep)
- Singapore: Housing & Development Board Annual Report (2017)
- more updates...
Economy in Brief
U.S. Energy Prices Ease
Gasoline prices fell four cents last week to an average $2.84 per gallon (+14.6% y/y)...
German PPI Makes Sharp Gain on Rising Energy Costs
The German PPI rose by a strong 0.6% in September, but the PPI excluding energy gained just 0.1%...
FIBER: Industrial Commodity Prices Fall Further
The FIBER Industrial Materials Price Index declined 1.3% during the last four weeks...
Japan’s METI Sector Indexes Rebound But Still Lag
Japan's economy continues to fight for revival...
U.S. Existing Home Sales Continue to Weaken, Dragging Down Prices
The NAR reported that sales of existing homes during September declined 3.4% to 5.150 million...
by Tom Moeller March 1, 2012
After several months of strong increase, construction spending slipped in January. The 0.1% decline followed a 1.4% December rise and a 1.9% November gain that was revised up sharply. Gains in the Summer also were solid. Consensus expectations were for a 0.8% January increase and the level of activity was at its highest since December 2009.
Private sector spending slipped marginally due to a 1.5% decline (+16.6% y/y) in nonresidential building. Residential building rose 1.8% (6.7% y/y) as single-family construction increased 2.5% (5.5% y/y) and multi-family rose 0.7% (20.0% y/y). The value of spending on improvements increased 1.3% (6.4% y/y). The value of public sector building activity slipped 0.2% in January but the y/y decline stabilized at -0.5% following the worst comparison of -8.3% this past Summer.
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 (%) | Jan | Dec | Nov | Y/Y | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|
| Total | -0.1 | 1.4 | 1.9 | 7.1 | -1.7 | -11.3 | -15.3 |
| Private | -0.0 | 1.8 | 1.6 | 11.7 | 1.0 | -15.2 | -22.4 |
| Residential | 1.8 | 1.5 | 2.3 | 6.7 | -0.7 | -2.9 | -29.9 |
| Nonresidential | -1.5 | 2.1 | 1.0 | 16.6 | 2.5 | -24.0 | -16.0 |
| Public | -0.2 | 0.7 | 2.3 | -0.5 | -6.0 | -3.9 | 2.1 |
