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Economy in Brief
U.S. Housing Affordability Fell Back in February, but Still in Recent Range
The NAR U.S. Fixed Rate Mortgage Housing Affordability Index decreased 7.6% (-1.4% y/y) in February to 173.1...
European New Car Registrations Remarkably Strong Yet Forgettable
Car registrations are not going to be the only statistic that bears these dual and seemingly dueling characteristics...
U.S. Retail Sales Soar in March
Total retail sales including food service and drinking establishments increased 9.8% (27.7% y/y) during March...
U.S. Industrial Production Rebounded in March
Industrial production rebounded in March, rising 1.4% m/m (+1.0% y/y)...
U.S. Home Builder Index Edges Higher in April
The NAHB-Wells Fargo Composite Housing Market Index rose 1.2% to 83 during April...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller December 1, 2015
The value of construction put-in-place increased 1.0% during October following an unrevised 0.6% September increase. Three-month growth of 10.4% (AR) was steady with Q3 but down sharply from 29.2% during Q2. A 0.5% October rise had been expected in the Action Economics Forecast Survey.
Building activity in the private sector increased 0.8% following a 0.9% September gain. Activity increased at an 11.3% rate during the last three months. Residential building activity rose 1.0% (18.3% y/y), the seventh consecutive month of strong gain. The gain was led by a 1.6% increase in single-family building (11.3% y/y) which equaled the strongest rise of the year. Multi-family building rose 1.4% (27.2% y/y). Spending on improvements eased 0.3% (+21.5% y/y). Nonresidential building improved 0.6% (14.4% y/y) as factory sector construction rose 3.0% (37.6% y/y).
Public sector building increased 1.4% (5.6% y/y) following three months of little change. Water supply spending rose 2.5% (5.3% y/y) and office construction jumped 1.8% (7.2% y/y). Highway and street construction increased 1.1% (5.2% y/y) but power construction declined 5.2% (-8.7% y/y).
The construction spending figures are in Haver's USECON database and the expectations figure is contained in the AS1REPNA database.
Construction Put in Place (SA, %) | Oct | Sep | Aug | Oct Y/Y | 2014 | 2013 | 2012 |
---|---|---|---|---|---|---|---|
Total | 1.0 | 0.6 | 0.9 | 11.7 | 4.8 | 6.6 | 9.2 |
Private | 0.8 | 0.9 | 1.0 | 14.3 | 6.0 | 11.3 | 15.9 |
Residential | 1.0 | 1.6 | 1.7 | 16.2 | 1.0 | 19.5 | 14.9 |
Nonresidential | 0.6 | 0.2 | 0.2 | 12.4 | 11.3 | 3.6 | 16.9 |
Public | 1.4 | -0.1 | 0.7 | 5.6 | 1.9 | -3.1 | -2.5 |