2018 Economic Calendar
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Construction Spending  
Released On 10/1/2018 10:00:00 AM For Aug, 2018
PriorPrior RevisedConsensusConsensus RangeActual
Construction Spending - M/M change0.1 %0.2 %0.4 %0.0 % to 0.6 %0.1 %
Construction Spending - Y/Y change5.8 %6.0 %6.5 %

A marginal headline gain of 0.1 percent in construction spending masks significant declines in residential spending during August. Residential spending fell 0.7 percent in the month to more than offset a 0.2 percent rise in July. Looking at sub-components, single-family spending was also down 0.7 percent in August with multi-unit spending down 1.7 percent. Home improvement spending fell 0.6 percent.

Strength in the report is in highways & streets, up 1.7 percent in the month. Educational spending was also strong with a 1.0 percent gain. Government spending was very active in August, up 5.9 percent at the Federal level and up 1.7 percent for state & local.

Private nonresidential spending was flat, down 0.2 percent overall with commercial, power and manufacturing subcomponents all showing declines to offset gains for transportation and offices.

This report is not pointing to acceleration in business investment and is consistent with another weak quarter for residential investment which remains the economy's weak spot for 2018.

Consensus Outlook
Construction spending has been bumping along in uneven monthly performances though the year-on-year trend has remained favorable, rising consistently in the mid-single digits. Forecasters see August construction spending rising a monthly 0.4 percent vs July's marginal 0.1 percent gain which showed a surge in home improvement spending that offset outright declines for new homes.

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
Year-on-year change in construction spending, a data set that tracks both residential and non-residential spending, offers a definitive indication on the health of the construction sector.
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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