Tag Archives: construction

Housing Starts Data Better than Headline

Headline housing starts fell 17,000 in November from an upwardly revised figure in October. October’s revision of +36,000 was large enough to eclipse November’s decline;

Construction Spending Rebounds

Construction spending surged 1.1% in October, more than twice the consensus, while losses for September came in much smaller than initially reported. The largest increase was in the public sector, which had weighed down construction figures earlier in the year. In that sector, the largest gains were in health care and public safety. Highway construction [...]

Manufacturing Data Mixed

The Purchasing Managers Index (PMI) flash manufacturing index slowed in November with a worrisome shortfall in both new orders and actual manufacturing activity. The Institute for Supply Management (ISM) index for manufacturing activity, however, held up somewhat better with gains in new orders and production offsetting some moderation in hiring.

Housing Starts Recross Million Mark

Housing starts moved back above the one million unit threshold again in September, after being revised up slightly for August. Multifamily starts accounted for nearly the entire comeback after starts cratered in August.

Construction Spending Disappoints

Construction spending dropped 0.8% in August after being revised down for the month of July. Losses were distributed between both the private and public sectors. Even private residential construction took a hit, with losses in remodeling offsetting gains in single and multifamily construction. Multifamily construction remains the primary driver in the housing market with increases [...]

Construction and Manufacturing Surprise to Upside

Construction spending jumped 1.8% in July from June, much more than most expected. Gains were greater in the public sector than in the private sector, as highway and street construction picked up to some extent in response to an unusual volume of repairs that needed to be completed in response to last year’s harsh winter. [...]

Inflation up, Housing down

The Consumer Price Index (CPI) rose 0.4% in May, the largest increase since early 2013. The rise in food prices on the heels of a harsh winter, disruptions to the planting season and drought in the West pushed up the price of food at home by 0.7%, which was no surprise to anyone shopping at [...]

Manufacturing still a Bright Spot

Industrial production rebounded 0.6% in May, after slipping a smaller-than-initially reported 0.3% in April. Gains were driven by a pickup in the production of vehicles and other durables, including business equipment. That supports our view that spending on big ticket items such as vehicles, furniture, appliances and investment in new equipment will drive growth as [...]

Construction Spending Partially Disappoints in April

Construction spending in April rose by 0.2%, a slightly disappointing figure that reflects a standstill in private spending and some modest progress in public construction expenditures. Expectations counted on seasonal improvements and a return to warmer temperatures for a more robust turnaround in activity, which in fact failed to materialize

New Home Sales Rise

New home sales rose between March and April and were revised up for the month of March. This is a bit of welcome news, given the tepid sales we saw in the existing home sales market yesterday. Gains were driven almost entirely by a snapback in the South, which was hit hard by winter storms [...]