Steel Markets
June 3, 2014
Construction Expenditures through April 2014
Written by Peter Wright
Each month the Commerce Department issues its construction put in place (CPIP) data on the first working day covering activity two months earlier. April data was released on June 2nd.
Total Construction: Data is reported on both a seasonally adjusted and non-adjusted basis. In the SMU analysis we consider only the non-adjusted data and remove seasonality by the consideration of year over year (y/y) data. We also focus on rolling 3 and 12 month data to remove the noise in singly month numbers. April expenditures were $76.263 billion which breaks down to $55.806 B of private work, $18.552 B state and locally financed and $1.905 B of Federal expenditures, (Table 1).
