Steel Markets
January 10, 2018
February CPIP Data Shows Construction Momentum
Written by Peter Wright
Total construction expenditures have turned around and grew by 3.9 percent in three months through February year over year.
The growth of total construction on a rolling 12-month basis year over year has been constant at 2.1 percent for each month December through February. On a rolling three-month year-over-year basis, the situation is much better with growth improving every month from September through February. This means that construction expenditures have positive momentum. 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.
