On Monday, July 2, the U.S. Census Bureau [1] will publish its Construction Spending Survey for May. The report, which releases at 10 a.m. ET provides monthly estimates of the total dollar value of construction work done in the U.S. The survey covers new structures built each month or improvements to existing structures for private and public sectors.
Data covered in the survey also include the cost of labor and materials, cost of architectural and engineering work, overhead costs, interest and taxes paid during the building process, and contractor’s profits.
According to the survey for April, construction spending during the month was estimated at $1,310.4 billion, 1.8 percent above the revised March estimate of $1,286.8 billion. On a year-over-year basis, the construction for April 2018 was 7.6 percent above the same period a year ago. For the first quarter of the year, the survey found that spending was 6.6 percent above the same period in 2017 at $387 billion.
Here's what else is happening in the week ahead:
- Census Bureau Construction Spending Survey, Monday
- CoreLogic Home Price Insights Report, Tuesday
- MBA Mortgage Apps, Thursday, 7 a.m. ET
- FOMC Minutes, Thursday, 2 p.m. ET
- Fed Balance Sheet, Thursday, 4:30 p.m. ET
- Census Bureau Jobs Report, Friday, 8:30 a.m. ET
Read more about current housing market trends:
Are Home Prices Decelerating? [2]
Deep Diving into New Home Sales [3]
Pending Home Sales Slip on ‘Unmet Expectations’ [4]