EmailStory Stocks®
Archive
Last Update: 01-Feb-12 11:58 ET
Construction Spending Exceeds Expectations in December
Total construction spending increased 1.5% in December, up from a downwardly revised 0.4% (from 1.2%) in November. The Briefing.com consensus expected construction spending to increase 0.4%.
The construction data were already incorporated into the Q4 2011 GDP report and will not have an effect on any revisions.
After falling 0.4% in November, private construction increased 2.1% in December.
Residential investment increased 0.8% in December due to a 1.3% increase in new residential structures spending. Home improvement spending edged up 0.2%.
Nonresidential investment spending increased 3.3% in December. Almost the entire gain came from a 13.6% increase in manufacturing construction. Office construction fell 0.3% while commercial construction increased 0.1%.
Public construction increased 0.5% in December, down from 1.7% growth in November.
The construction data were already incorporated into the Q4 2011 GDP report and will not have an effect on any revisions.
After falling 0.4% in November, private construction increased 2.1% in December.
Residential investment increased 0.8% in December due to a 1.3% increase in new residential structures spending. Home improvement spending edged up 0.2%.
Nonresidential investment spending increased 3.3% in December. Almost the entire gain came from a 13.6% increase in manufacturing construction. Office construction fell 0.3% while commercial construction increased 0.1%.
Public construction increased 0.5% in December, down from 1.7% growth in November.
