Steel Markets
November 9, 2016
Construction Expenditures through September 2016
Written by Peter Wright
Each month the Commerce Department issues its Construction Put in Place (CPIP) data, usually on the first working day covering activity two months earlier. September data for CPIP was released on Tuesday November 1st.
On a rolling 3 months basis year over year total construction has declined every month since March when growth was 12.4 percent to 0.1 percent in September. Of the three funding categories, private, state & local and federal, only private work had positive growth in three months year over year and that with a slowing trend. All four construction sectors had negative momentum. These are non-residential buildings, residential buildings, infra-structure and other which is a catch all for industrial, utilities and power.
