2018 Economic Calendar
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Construction Spending  
Released On 6/1/2018 10:00:00 AM For Apr, 2018
PriorConsensusConsensus RangeActual
Construction Spending - M/M change-1.7 %0.8 %0.5 % to 2.0 %1.8 %
Construction Spending - Y/Y change3.6 %7.6 %

Highlights
A rebound in multi-family units helped drive construction spending 1.8 percent higher in April to fully reverse the prior month's 1.7 percent decline. Spending on multi-family units rose 3.6 percent in the month following March's 4.3 percent decline in a gain, however, that can't overshadow no change for spending on single-family homes. But home improvements were a big positive rising 0.7 percent in the month.

Non-housing data are mixed with private nonresidential, led by transportation and power, up a strong 0.8 percent but with highways & streets down 1.0 percent.

This report is often very volatile making year-on-year readings useful to gauge trends. And there is clear strength here, with total spending up 7.6 percent including a very strong 9.6 percent gain for single-family homes that puts April's no change in perspective. Housing is in short supply which has been holding down home sales and the question for the sector is whether builders can pick up their pace to meet demand.

Consensus Outlook
Construction spending is often a very volatile report, swinging lower in March and expected to swing back higher in April, at a consensus 0.8 percent gain. Spending on single-family homes fell back in March with non-residential spending holding steady.

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
 
 

2018 Release Schedule
Released On: 1/32/13/14/25/16/17/28/19/410/111/112/3
Release For: NovDecJanFebMarAprMayJunJulAugSepOct
 


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