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Actual | Forecast | Previous | Revised Form | |
| -0.9% | -0.5% | 0.6% | 0.8% | ||
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Monthly Change for May
Construction spending slid 0.9% in May, a figure that disappointed forecasts and more than reverses the gains seen in May. It's the fourth time in five months that construction spending has been down, and implies that the housing market's recovery will be slow. Total residential construction fell 3.5%, while nonresidential construction was up 0.1%. |
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| 10/1 | 11/3 | 12/1 | 1/5 | 2/2 | 3/2 | 4/1 | 5/4 | 6/1 | 7/1 | ||
| Actual | 0.0% | -0.3% | -1.2% | -0.6% | -1.4% | -3.3% | -0.9% | 0.3% | 0.8% | -0.9% | |
| Forecast | -0.4% | -0.8% | -0.9% | -1.3% | -1.1% | -1.5% | -1.7% | -1.4% | -1.7% | -0.5% | |
| Previous | -1.4% | 0.3% | 0.0% | -0.4% | -0.6% | -2.4% | -3.5% | -1.0% | 0.4% | 0.6% | |
| Revised From | -0.6% | 0.0% | -0.3% | -1.2% | N/A | -1.4% | -3.3% | -0.9% | 0.3% | 0.8% | |
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Actual | Forecast | Previous | Revised Form | |
| 0.8% | -1.7% | 0.4% | 0.3% | ||
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Monthly Change for April
Construction spending in the US rose 0.8% in April, a figure that came in way above expectations. It suggests that the housing slump may be easing as more commercial projects got under way. Residential construction was up 0.6%, with non-residential construction, including public projects, up 0.8%. Public construction was down 0.6%, but with money from the stimulus plan filtering down to the state and local level public construction is expected to increase in the coming months. Overall, the news is a welcome result and another piece of evidence pointing to a softening of the current recession. |
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Actual | Forecast | Previous | Revised Form | |
| 0.3% | -1.4% | -1.0% | -0.9% | ||
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Monthly Change for March
From the Release: "The U.S. Census Bureau of the Department of Commerce announced today that construction spending during March 2009 was estimated at a seasonally adjusted annual rate of $969.7 billion, 0.3 percent (±1.3%)* above the revised February estimate of $967.1 billion. The March figure is 11.1 percent (±1.6%) below the March 2008 estimate of $1,090.5 billion. During the first 3 months of this year, construction spending amounted to $209.5 billion, 10.9 percent (±1.4%) below the $235.2 billion for the same period in 2008." |
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Actual | Forecast | Previous | Revised Form | |
| -0.9% | -1.7% | -3.5% | -3.3% | ||
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Monthly Change for February
From the Release: "The U.S. Census Bureau of the Department of Commerce announced today that construction spending during February 2009 was estimated at a seasonally adjusted annual rate of $967.5 billion, 0.9 percent (±1.1%)* below the revised January estimate of $976.2 billion. The February figure is 10.0 percent (±1.6%) below the February 2008 estimate of $1,075.3 billion." |
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Actual | Forecast | Previous | Revised Form | |
| -3.3% | -1.5% | -2.4% | -1.4% | ||
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Monthly Change for January
From the Release: "The U.S. Census Bureau of the Department of Commerce announced today that construction spending during January 2009 was estimated at a seasonally adjusted annual rate of $986.2 billion, 3.3 percent (±1.3%) below the revised December estimate of $1,020.0 billion. The January figure is 9.1 percent (±1.8%) below the January 2008 estimate of $1,085.4 billion." |
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Actual | Forecast | Previous | Revised Form | |
| -1.4% | -1.1% | -0.6% | N/A | ||
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Monthly Change for December
US construction spending fell for the 3rd month in a row in December. Total spending was down 1.4% to a seasonally adjsuted annual rate of $1.054 trillion.Residential construction was down 3.2%, non-residential construction decreased 0.6%, and public or government construction decreased 0.8%. December's figure was worse than expected. For all of 2008, spending fell a record 5.1% to $1.09 trillion from $1.137 trillion during 2007. |
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Actual | Forecast | Previous | Revised Form | |
| -0.6% | -1.3% | -0.4% | -1.2% | ||
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Monthly Change for November
In the US, construction spending for the month of November fell 0.6%, but this was better than forecasts. The report showed that gains in the commercial and government buildings partially cushioned the slump in residential real estate.
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Actual | Forecast | Previous | Revised Form | |
| -1.2% | -0.9% | 0.0% | -0.3% | ||
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Monthly Change for October
From the Release: "The U.S. Census Bureau of the Department of Commerce announced today that construction spending during October 2008 was estimated at a seasonally adjusted annual rate of $1,072.6 billion, 1.2 percent (±1.4%)* below the revised September estimate of $1,085.7 billion. The October figure is 4.6 percent (±1.9%) below the October 2007 estimate of $1,124.2 billion. During the first 10 months of this year, construction spending amounted to $906.3 billion, 5.7 percent (±1.4%) below the $960.9 billion for the same period in 2007." |
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Actual | Forecast | Previous | Revised Form | |
| -0.3% | -0.8% | 0.3% | 0.0% | ||
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Monthly Change for September
Construction outlay numbers for September was better than expect although it did point to a fall in spending. Also, the previous release of a flat reading was revised up to a 0.3% increase. The residential component was revised to 1.9% from the 0.3% originally seen. However this component saw a -1.3% reading for September. On the year residential construction spending is down 27.1% and is still the major drag on the overall figures. From the release: "The U.S. Census Bureau of the Department of Commerce announced today that construction spending during September 2008 was estimated at a seasonally adjusted annual rate of $1,060.1 billion, 0.3 percent (±1.6%)* below the revised August estimate of $1,063.5 billion. The September figure is 6.6 percent (±2.1%) below the September 2007 estimate of $1,134.9 billion. |
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Actual | Forecast | Previous | Revised Form | |
| 0.0% | -0.4% | -1.4% | -0.6% | ||
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Monthly Change for August
US construction spending performed better than expected in August. Total spending was flat, but July's figure was revised sharply lower. Residential outlays saw a rare increase and offset a dip in commercial building. Residential spending is still 27.9% lower in August on an annual basis, as builders are reluctant to build new homes as inventories are way up and new homes are not selling well. That was apparent in the most recent new home sales figure which saw August's sales down 11.5%.
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