Prior month -0.1% revised to +0.1%US construction spending for September x.x% versus 0.0% expectedConstruction spending 4.6% YoY vs 4.1% last month
Private Construction:
Spending at an annual rate of $1,653.6 billion, virtually unchanged from August.Residential Construction: $913.6 billion, up 0.2% from August. Last month -0.3%. Nonresidential Construction: $740.0 billion, down 0.1% from August. Last month +0.1%
Public Construction:
Spending at an annual rate of $495.2 billion, a 0.5% increase from August. Last month was 0.3%Educational Construction: $104.2 billion, up 0.3% from August.Highway Construction: $141.0 billion, up 0.5% from August.
The data is stronger month on month with a revision higher from -0.1% to +0.1%. The gains were in public construction with educational and highway construction leading the way.
In the private sector, residential construction was higher after last months decline, but nonresidential construction fell offsetting the gains from last month.
This article was written by Greg Michalowski at www.forexlive.com.
