Steel Markets
June 4, 2018
April CPIP Data Shows Continued Growth in Construction Spending
Written by Peter Wright
Total construction spending through April has expanded for eight straight months, according to Steel Market Update’s latest analysis of Commerce Department data. The growth of total construction on a rolling three-month basis year over year has increased every month since August last year and reached 6.0 percent in April.
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.
