Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

U.S. construction spending rises sequentially in November

Construction spending in the U.S. grew sequentially in November. Spending was up 0.8 percent, coming in line with the projections. Also, October data were downwardly revised, with the overall construction spending now up 0.9 percent sequentially, as compared with the earlier estimate of 1.4 percent, while September data was revised up slightly. Overall, the construction spending has recorded fairly strong growth in the initial two months of the fourth quarter of 2017 and implies a solid end to 2017.

The November construction growth was driven by private construction spending, which grew 1 percent, which in turn was driven by an equal-sized rises in the residential and non-residential categories. Meanwhile, public construction spending grew below forecast, coming in at a modest 0.2 percent sequentially driven mainly by the residential category.

The construction spending report for the month of November was a bit above expectations, but some of this upside surprise was countered by downward revisions to the October data, noted Barclays in a research report. Within the details of the tracking model, weaker-than-expected public construction spending implies a lower contribution from government spending to the fourth quarter GDP.

“On the other hand, data on private construction spending were stronger than we had penciled in, implying higher residential investment in Q4, and offset the drag to our tracker from the public spending and structures subcomponents”, added Barclays.

At 20:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was neutral at -12.9709. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

January 19 15:30 UTC Released

USECRI Weekly Annualized

Actual

4.5 %

Forecast

Previous

3.3 %

January 19 15:30 UTC Released

USECRI Weekly Index

Actual

150.3 %

Forecast

Previous

147.6 %

January 21 21:00 UTC 619619m

KRPPI Growth YY

Actual

Forecast

Previous

3.1 %

January 21 21:00 UTC 619619m

KRPPI Growth

Actual

Forecast

Previous

-0.1 %

January 21 23:00 UTC 739739m

JPReuters Tankan DI

Actual

Forecast

Previous

27 k

January 22 07:00 UTC 12191219m

NOIndus Confidence

Actual

Forecast

Previous

2 0

January 22 08:00 UTC 12791279m

TWJobless Rate

Actual

Forecast

Previous

3.69 0

January 22 08:00 UTC 12791279m

TWExport Orders YY

Actual

Forecast

Previous

11.6 0

January 22 09:00 UTC 13391339m

GRCbank C/A YY

Actual

Forecast

Previous

-0.624 0

January 22 13:30 UTC 16091609m

USNational Activity Index

Actual

Forecast

Previous

0.15 %

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.