On Tuesday, September 4, the Census Bureau [1]will release its monthly construction spending report for July. Titled the Value of Construction Put in Place [2] (VIP) survey, the report looks at the estimated total dollar value of construction work done in the U.S.
It covers construction work on new structures and improvements to existing ones in the private and public sectors. Its data estimates include the cost of labor and materials, cost of architectural and engineering work as well as taxes and contractor’s profits from the construction.
The report’s latest data [3] for June estimated construction spending at a seasonally adjusted rate of $1,317.2 billion, a decline of 1.1 percent from the spending in May. However, it was 6.1 percent above the construction spending numbers reported in June 2017. Residential construction in June decreased 0.5 percent on a month-over-month basis to $568.3 billion.
Here’s what else is in store in The Week Ahead:
- CoreLogic Home Price Insights, Tuesday, 9 a.m. ET
- MBA Mortgage Apps, Wednesday, 7 a.m. ET
- Ellie Mae Millennial Tracker, Wednesday, 9 a.m. ET
- Fed Balance Sheet, Thursday, 4:30 p.m. ET
- Jobs Report, Friday, 8:30 a.m. ET