Construction Spending
Released On 1/2/2014 10:00:00 AM For Nov, 2013
Prior Prior Revised Consensus Consensus Range Actual
Construction Spending - M/M change -0.3 % 0.9 % 1.0 % 0.2 % to 4.0 % 1.0 %
Market Consensus before announcement
Construction spending made a comeback in October but it was from the public sector. Overall construction outlays rebounded 0.8 percent after declining 0.3 percent in September. Public construction spending jumped a monthly 3.9 percent, following a 1.9 percent decrease the month before. In the private sector, residential outlays dipped 0.6 percent in October, following a 1.7 percent boost the month before. But subcomponent news was mixed. New 1-family spending declined 0.6 percent after rising 1.7 percent. Strength was in new multi-family outlays, up 2.2 percent after jumping 4.3 percent in September. Residential outlays excluding new home fell 1.2 percent, following a gain of 3.6 percent the month before.
