Tag Archives: construction
The ISM index of manufacturing activity slowed to 50.2 in September, which suggests that overall manufacturing activity is still expanding but only slightly.
Real GDP was revised up to a 3.9% pace in the second quarter, 0.2% higher than previously reported. Average growth in the first half of 2015 is now tracking at 2.3%, well above the economy’s potential.
In August 552,000 new homes were sold, 30,000 more than were sold in July. Much of the increase was driven by a pop in sales in the South, with the West and Northeast posting modest increases as well.
In August, builders started on 1.126 million homes. That was a slowdown from last month’s downwardly revised data and can be chalked up to the Northeast’s multifamily sector; that continues to pull back after the expiration of tax incentives, which had pulled forward a lot of multifamily starts in the region. Total single-family starts, which [...]
Construction spending surged 0.7% in July and was revised up for the month of June; it is now at the highest level since mid-2008, which is good but still suppressed relative to the bubble. Gains in the private sector offset a drop in the public sector. The rise in single-family home construction outpaced gains
New home sales increased in July to an annualized level of 507,000; that is up a solid 26,000 from the previous month. The revision to June was essentially flat. Three of the four regions posted increases with the South leading the way, followed by the West and Northeast. The Midwest was the only region to [...]
Construction spending rose an almost imperceptible 0.1% in June, with a drop in the private sector offsetting ongoing gains in the public sector. Revisions to previous months were to the upside, however, suggesting that the improving trend in construction that we saw with last month’s release is still intact.
New home sales fell to a 482,000 unit annualized pace In June, down 35,000 from May. That drop came on top of a 29,000 downward revision to the previous month. Sales in three of the four regions in the country were lower,
Housing starts rebounded to a 1.174 million-unit pace in June, while the decline for May was slightly less than initially reported. Gains were concentrated in the multi-family market as builders are still rushing to meet what they see as a permanent shift by millennials to move to urban centers and delay marriage and having children; [...]