Steel Products
December 6, 2017
October CPIP Data Shows Construction Slowing
Written by Peter Wright
Construction improved in October, but the longer-term trend is for a slowdown in construction spending. Construction slowed every month this year through August on a rolling three-months year-over-year basis. The slowdown in the growth rate stabilized in September and October, improving from 0.5 percent to 1.5 percent.
Construction expenditures data is developed by the Department of Commerce and is referred to as CPIP (construction put in place). Since construction is extremely seasonal, the growth or contraction we report in this analysis has had seasonality removed by providing only year-over-year comparisons.
