In the U.S. it is a monthly statistics released by the Department of Commerce and is broken down by residential construction, non-residential construction and public expenditure (government). Historically, the number has been volatile on a month to month basis to have an impact on the markets. However, data from several months is often used to identify trends in the sector.
Construction spending is affected by interest rates, business cash flow and even federal fiscal policy. Therefore, trends in construction spending has a direct bearing on stocks, bonds and commodities. Construction spending data helps investors to determine how stocks of home builders and large-scale construction contractors will do. Commodity prices like lumber are also sensitive to housing industry trends.