US construction spending likely steady in October

The nominal value of change in the construction spending for the month of October is likely to be 0.6 as expected by the market consensus, similar as that of previous month's value.

This is probably caused mainly due to the tug of war between the stepped-up business and public outlays in US.

Societe Generale expects the nominal value of new construction put in place 0.2% higher in October ending a series of steady 0.6% gains over the prior four months, which if realized, would place current-dollar construction spending in October 3.3% annualized above the July-September average, following a 9.7% summer-quarter advance.