US construction spending for September +0.5% versus 0.2% estimate

US construction spending for the month of September 2019

US construction spending can better-than-expected at 0.5% versus 0.2% estimate. However, the better-than-expected results can be attributed to a revision lower in the pror month. The August gain of 0.1% previously reported was revised to -0.3%.

• Construction spending +0.5% versus 0.2% estimate
• prior month revised to -0.3% from +0.1%
• private construction rose 0.2% versus -0.3% last month
• residential construction rose 0.6% versus +0.8% last month
• nonresidential construction fell -0.3% versus -1.5% last month
• public construction rose by 1.5% with residential construction down -0.7% and nonresidential construction up 1.5%

Peter (September) robbed from Paul (August) if you consider the revisions.