Total construction outlays rose 0.4% in April, reflecting an increase in home improvement outlays (+7.6%) and expenditures of non-residential outlays (+0.5%). Outlays pertaining to new housing (-0.9%) fell in April.

Residential construction data in April sets the stage for a small increase in residential investment expenditures in the second quarter, if new home construction numbers do not post a large drop in the May-June period.

Asha Bangalore — Senior Vice President and Economist

http://www.northerntrust.com

Asha Bangalore is Vice President and Economist at The Northern Trust Company, Chicago. Prior to joining the bank in 1994, she was Consultant to savings and loan institutions and commercial banks at Financial & Economic Strategies Corporation, Chicago.

The opinions expressed herein are those of the author and do not necessarily represent the views of The Northern Trust Company. The Northern Trust Company does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions.

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