Tag Archives: construction
Housing starts for March came in below expectations, adding only 926,000. Even though the data improved from last month, it did not rebound as strongly as many hoped. February data were revised up but only by 11,000 to 908,000. Single-family starts were much the same, adding only 618,000, which is only 26,000 higher than February. [...]
Construction spending disappointed again in February, falling 0.1% from a downward revision to January data. Everything from the unusually snowy winter, which delayed some major projects, to a crimp in investment in public infrastructure accounted for the weakness. Indeed, losses were concentrated in the public sector.
Total housing starts for February dropped to 897,000 on an annualized basis to levels not seen since September 2013. Severe winter weather played a significant role in the drop. All regions posted declines. The Northeast and Midwest posted the worst, dropping 61,000 and 57,000 respectively from last month. On a percentage basis, these declines were [...]
Construction spending plummeted 1.1% in January as another relentless winter disrupted public and private sector projects alike; that was despite seasonal adjustment of the data. We experienced more weather disruptions in more places in February than January so the noise from distortions will likely get worse before it gets better. Losses were broad-based
Construction spending rose 0.4% in December, less than hoped, but that followed a slight upward revision for the previous month. Gains in the public sector outpaced gains in the private sector, but the public sector has yet to regain ground lost earlier in the quarter. Public infrastructure projects picked up
Construction spending fell 0.3% in November after surging a revised 1.2% in October. A sharp drop in public outlays, which led October gains, accounted for much of the weakness. Residential construction continued to post gains, but off of a low base. Single-family home construction,
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 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 [...]
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 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.