Prior month revised to -1.2% from -0.6% previously reported
US construction spending came in at 0.5% vs 0.4%, but the prior month (July) was revised sharply lower at -1.2% vs -0.6% previously reported.
- Private construction rose 0.4%
- Public construction spending 0.7%
- Private residential construction increased 0.4%
- June was also revised. It was revised higher to -0.8% vs -1.4% earlier.
So overall, two prior months saw counteracting revisions.
- July was revised lower by -0.6%
- June was revised higher by +0.6%
- The current month was higher than expectations at 0.5% vs 0.4%.
Can we call it all a wash/as expected for this release? Yes.
