*SCALPSWINGSTRADDLE*

[Zephyr]

Construction Spending - beat
Released On 3/3/2014 10:00:00 AM For Jan, 2014
Prior Consensus Consensus Range Actual
Construction Spending - M/M change 0.1 % -0.2 % -1.5 % to 0.4 % 0.1 %
Market Consensus before announcement
Construction spending eased in December but housing was strong-in contrast to recent sales numbers. Total outlays edged up 0.1 percent after a 0.8 percent boost in November. Strength was in private residential outlays which jumped 2.6 percent in December, following a 1.1 percent rise the month before. By subcomponents, new one-family outlays gained 3.4 percent in December, new multifamily rose 0.5 percent, and ex-new homes increased 2.0 percent in December. Private nonresidential construction spending dipped 0.7 percent but followed a strong 2.4 percent in November. Public outlays fell 2.3 percent after a 1.4 percent decline in November.