Home >> Daily Dose >> The Week Ahead: An Update on Construction Spending
Print This Post Print This Post

The Week Ahead: An Update on Construction Spending

On Thursday, the Census Bureau will release data on Construction Spending in September. The data gauges the value of construction put in place during the month and covers construction work done each month on new structures or improvements to existing structures for private and public sectors. Data estimates include the cost of labor and materials, cost of architectural and engineering work, overhead costs, interest and taxes paid during construction, and contractor’s profits.

The report for August indicated that construction spending had increased slightly at 0.1 percent month over month and was 6.5 percent above the same period in 2017. Total spending on construction in August stood at $1,318.5 billion. The report estimated private construction spends at $1,001.7 billion and was below the revised July estimate of $1,006.9 billion.  Residential construction was at a seasonally adjusted annual rate of $548.9 billion in August, 0.7 percent below the revised July estimate of $553.0 billion, the report indicated.

Here’s what else is in store in The Week Ahead:

  • AEI National Mortgage Risk Index Update, Monday, 11 a.m. ET
  • Census Bureau Housing Vacancy and Homeownership Report, Tuesday, 9 a.m. ET
  • S&P CoreLogic Case-Shiller HPI, Tuesday, 9 a.m. ET
  • MBA Mortgage Apps, Wednesday, 7 a.m. ET
  • Census Bureau Jobs Report, Friday, 8:30 a.m. ET

About Author: Radhika Ojha

Radhika Ojha is an independent writer and editor. A former Online Editor and currently a reporter for MReport, she is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her master’s degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.
x

Check Also

Jeff Schmidt to Lead Gateway First’s Mortgage Ops

As Chief of Mortgage Operations, Jeff Schmidt will manage the underwriting, appraisal, closing/funding, post-closing, and construction lending departments at Gateway First.

GET THE NEWS YOU NEED, WHEN YOU NEED IT.

With daily content from MReport, you’ll never miss another important headline in originations, lending, or servicing. Subscribe to MDaily to begin receiving a complimentary daily email containing the top mortgage news and market information.