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Monday, December 9, 2019 8:38:10 PM EST

Construction Spending Updated 02-Dec-19 10:47AM ET
Total construction spending declined 0.8% m/m in October ( consensus +0.3%) on the heels of a downwardly revised 0.3% decline (from +0.5%) in September.

Total residential spending was up 0.5% yr/yr while total nonresidential spending was up 1.4% yr/yr.

Total private construction spending was down 1.0% m/m in September. Residential spending was down 0.9% while nonresidential spending was down 1.2%, paced by a 2.4% decline in commercial spending and a 1.3% decline in power spending.

Total public construction spending declined 0.2% m/m, led by a 0.1% decline in nonresidential spending, which was held back by a 2.2% decline in highway and street spending.

The key takeaway from the report is that private construction spending remains weak (down 1.8% yr/yr), saddled by a downturn in nonresidential spending (down 4.3% yr/yr) that has stemmed in large part from a 17.7% decline in commercial spending.
Nominal (Current) Dollars
Total Construction-0.8%-0.3%1.1%0.5%-0.9%