Steel Products
January 10, 2018
November CPIP Data Shows Construction Growth Slowing
Written by Peter Wright
Total construction spending in the United States expanded by 1.3 percent in November, versus November 2016, but in the longer term the growth rate is slowing. On a rolling 12-month basis year over year, construction spending slowed every month in 2017. On a rolling three-months basis year over year, growth improved in October and November, though with negative momentum.
This construction expenditures data is developed by the Department of Commerce and is referred to as construction put in place (CPIP). Since construction is extremely seasonal, the growth or contraction Steel Market Update reports in this analysis has had seasonality removed by providing only year-over-year comparisons.
