Steel Markets
May 3, 2018
March CPIP Data Shows Growth in Construction Spending
Written by Peter Wright
Total construction spending has expanded for seven straight months, according to Steel Market Update’s latest analysis of Department of Commerce data. The growth of total construction on a rolling 12-month basis year over year increased from 2.1 percent in January to 2.2 percent in February to 2.3 percent in March this year. On a rolling three-month year-over-year basis, the situation is much better with growth improving every month from August through March when it reached 4.8 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.
