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Posts Tagged ‘construction industry’

Home Construction And Building Permits Drop

June 16, 2010 1 comment

The hopes of construction industry to lead economic recovery looking slim.

Home construction plunged last month to the lowest level since December and building permits also fell, the latest signs that the construction industry won’t fuel the economic recovery.

Builders are scaling back now that government incentives have expired.

The Commerce Department said Wednesday that construction of new homes and apartments fell 10 percent in May to a seasonally adjusted annual rate of 593,000. April’s figure was revised downward to 659,000.

The results were driven by a 17 percent decline in the single-family market, which had benefited earlier in the year from federal tax credits of up to $8,000. It was the largest monthly drop in single-family construction since January 1991.

[read more]

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Categories: Construction, News

Increase In Construction For February

March 19, 2010 Leave a comment

According to McGraw-Hill Construction things are looking up, at least in some sectors in February with a 5% bump in job starts.

At a seasonally adjusted annual rate of $440.9 billion, new construction starts in February climbed 5% from the previous month.  Much of the lift was provided by the public works sector, reflecting strength for both transportation and environmental projects.  Residential building also showed improvement in February, but nonresidential building slipped back after January’s gain.  For the first two months of 2010, total construction on an unadjusted basis came in at $57.2 billion, essentially the same amount as reported during the first two months of 2009.

February 2010 Construction Starts

 

JANUARY 2010 CONSTRUCTION STARTS

MONTHLY SUMMARY OF CONSTRUCTION STARTS
Prepared by McGraw-Hill Construction Research & Analytics

Monthly Construction Starts
Seasonally Adjusted Annual Rates, In Millions of Dollars

    February 2010   January 2009   % Change
 Nonresidential Building  $147,260  $158,322  -7
 Residential Building  $141,282 $134,007  +5
 Nonbuilding Construction  $152,317  $127,655  +19
  Total Construction  $440,859  $419,984  +5

The Dodge Index
(2000=100, Seasonally Adjusted)

February 2010 ……………………… 93
January 2010 ……………………….. 89

YEAR-TO-DATE CONSTRUCTION STARTS
Unadjusted Totals, In Millions of Dollars

  2 Mo. 2010   2 Mo. 2009   % Change
 Nonresidential Building  $21,125  $25,453  -17
 Residential Building  $17,274 $13,588  +27
 Nonbuilding Construction  $18,833  $18,093  +4
  Total Construction  $57,232  $57,134  0

[McGraw Hill Forecasts & Trends]

Categories: Construction, News

Daily Fill: Headlines & News

March 17, 2010 2 comments
Categories: Daily Fill, News

Decline In Construction Costs Anticipated

March 1, 2010 2 comments

More signs that the construction industry is on a recovery path.  Hard to get a good gauge on things, as the construction industry will be behind the economy recovery and we all know how that is going – [slow].

Turner Construction Company announced that the First Quarter 2010 Turner Building Cost Index, which measures non-residential building construction costs in the United States, has decreased by 0.5% from the Fourth Quarter 2009 and decreased 7.74% from the First Quarter 2009. Construction costs have decreased by 13.06% since their peak at the end of 2008. The Turner Building Cost Index value for First Quarter 2010 is 799.

Categories: News

Construction Up 2.8% On Housing

February 19, 2010 Leave a comment

Is housing recovery starting to take shape?  With the construction numbers showing promise in January, optimistic is the word of the day.

Housing construction posted a better-than-expected increase in January which pushed activity to the highest level in six months. The solid gain raised hopes that the construction industry is beginning to mount a sustained rebound from its worst slump in decades.

The Commerce Department said Wednesday that construction of new homes and apartments rose 2.8 percent last month to a seasonally adjusted annual rate of 591,000 units. That was better than the 580,000 annual pace that economists were forecasting.

[should we hold our breath]

Categories: Construction, News

25% Of Constructions Workers Are Out Of A Job

February 16, 2010 Leave a comment

With construction lagging, the construction industry unemployment rate is at a staggering 24.7%. [rock bottom?]

Overall U.S. job growth continued to be undermined by the severe downturn affecting the construction industry as another 75,000 construction workers lost their jobs in January 2010 and the industry’s unemployment rate jumped to 24.7 percent, according to federal employment figures released today. Excluding construction job losses, nonfarm payroll employment actually rose for the second time in three months, the Associated General Contractors of America noted.

Categories: Construction, News