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2005 U.S. Economic Events & Analysis
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Construction Spending
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

Released on 11/1/05 For Sep 2005
Construction Spending, M/M change
 Actual 0.5%  
 Consensus 0.5%  
 Consensus Range -0.5%  to  1.1%  

Highlights
As expected September construction spending eased to an increase of 0.5 percent from August's revised increase of 0.6 percent. Construction spending was up 6.8 percent on the year. Total private construction was up 0.6 percent while total public construction was unchanged on the month. Private residential construction jumped by 1 percent after edging up 0.1 percent in the prior month. However, private nonresidential construction was down 0.2 percent. The big gainers in August were the big losers in September. For example, commercial spending dropped 1.2 percent after solid gains in both July and August while manufacturing dropped 3.2 percent after gaining 6.8 percent in the prior month. Power sank 9.9 percent after climbing 2.3 percent in August.

Construction expenditures are likely to be barely noticed this morning in light of the larger-than-expected gain in the ISM.

Market Consensus Before Announcement
Construction spending inched up in August. The high level of housing starts in September suggests that residential spending should boost overall construction spending, although nonresidential construction spending may not be as buoyant.

Construction spending Consensus Forecast for Sept 05: 0.5 percent
Range: -0.5 to 1.1 percent
Trends
[Chart] Construction spending has moderated significantly over the past year despite strenth in the housing market. Residential construction is not growing as rapidly as it did even though current levels are high. Nonresidential construction has begun to improve, but gains are still modest.
Data Source: Haver Analytics

2005 Release Schedule
Released On: 1/3 2/1 3/1 4/1 5/2 6/1 7/1 8/1 9/1 10/3 11/1 12/1
Released For: Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct


 
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