Construction Spending m/m reflects changes in the total value of construction works completed in the United States in the given month compared to the previous month.
The index survey covers construction of new residential and non-residential buildings, as well as reconstruction of existing buildings in private and public sectors. Calculation includes spending on the following types of projects:
The calculation takes into account cost of construction materials and cost of labor, of architectural and engineering work, overheads, interest, taxes paid during construction work and contractor's profit.
Construction projects do not include maintenance and repair of existing buildings, costs of production equipment and furniture, well drilling, land acquisition.
The indicator has a minimal direct impact on dollar quotes due to high volatility (seasonal changes, weather influence, etc.). Economists use it for near-term GDP forecast, since investments in construction are included in GDP calculation.
The chart of the entire available history of the "United States Construction Spending m/m" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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