2011 Economic Calendar
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Construction Spending  
Released On 4/1/2011 10:00:00 AM For Feb, 2011
PriorPrior RevisedConsensusConsensus RangeActual
Construction Spending - M/M change-0.7 %-1 %-0.3 %-1.5 % to 1.5 %-1.4 %
Construction Spending - Y/Y change-5.9 %

Highlights
The construction sector remains back in contraction. Overall construction outlays declined 1.4 percent after falling a revised 1.8 percent in January. The latest number was worse than analysts' estimate for a 0.8 percent decline.

The February drop was led by a 3.7 percent decline in private residential outlays, following a 3.6 percent rise the prior month. Private nonresidential construction spending edged up 0.9 percent, following an 8.0 percent drop in January. Public outlays declined 1.3 percent after a 0.5 percent dip the previous month. Atypically severe winter weather likely weighed on construction activity.

On a year-ago basis, overall construction outlays improved to minus 6.8 percent in February from down 8.3 percent in January.

Consensus Outlook
Construction spending in January declined 0.7 percent after falling a revised 1.6 percent in December. Given that housing starts fell a sharp 22.5 percent in February, there is a good chance construction outlays will be down for the month-at least for the residential component.

Definition
The dollar value of new construction activity on residential, non-residential, and public projects. Data are available in nominal and real (inflation-adjusted) dollars.  Why Investors Care
 
[Chart]
Over the last year, a decline in residential outlays has pulled down year-on-year growth for overall construction outlays. Nonresidential and public outlays are positive with nonresidential actually strong.
Data Source: Haver Analytics
 
 

2011 Release Schedule
Released On: 1/32/13/14/15/26/17/18/19/110/311/112/1
Release For: NovDecJanFebMarAprMayJunJulAugSepOct
 


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