Keeping you up to date on the latest data releases.
- Construction Spending
In August, private construction spending was essentially flat (+0.4 percent) after the July number was revised down. Residential (+0.7 percent) and nonresidential (+0.2 percent) spending both posted slight gains over the month. On the residential side, there was not a stand-out sector; single-family, multifamily, and improvements all posted similarly sized small upward movements. Looking over the year, spending on single-family construction is down 3.5 percent, while spending on multifamily construction is up 13.3 percent and spending on improvements is up 10.5 percent. On the nonresidential side, lodging had the steepest decrease over the month (−6.9 percent), while power had the strongest month (+2.9 percent). Over the year, lodging is also the weakest sector (−31.7 percent), and power is the strongest (25.9 percent). Overall, total private construction spending is up 5.6 percent since August 2010.