Monday, June 1, 2015 12:36 PM
Today’s Census Bureau release regarding nonresidential construction spending did not just offer good news about April; it also supplied upwardly revised spending data for both February and March. Nonresidential spending expanded 3.2 percent on a monthly basis in April and spending totaled $646.7 billion on a seasonally adjusted, annualized basis, according to the government’s initial estimate. Nonresidential construction is up by a solid 8.8 percent over the past year, consistent with ABC’s forecast of high single-digit growth. The Census Bureau also revised March’s nonresidential spending figure from $611.8 billion to $626.7 billion, and February’s figure from $613.1 billion to $618.4. Initial estimates suggested that nonresidential construction was sagging during the early months of the year; however, the new data indicate spending has expanded during each of the previous three months.
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Thursday, May 14, 2015 11:29 AM
Prices for inputs to construction industries fell by 0.1 percent in April, ending a two month streak during which material prices expanded by greater than 0.4 percent. Prices have now fallen in six of the previous eight months and input prices are also down on a year-over-year basis, falling 4 percent since April 2014. This represents the greatest year-over-year decline since October 2009 and year-over-year input prices have now declined for 5 straight months after expanding in each of the previous 60 months. Prices for inputs to nonresidential construction showed a similar decline, falling 0.1 percent for the month and 5.1 percent year-over-year. Crude petroleum prices expanded for only the second time in the previous ten months, growing by 13.1 percent, the largest month-over-month increase since November 2011.
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Friday, May 8, 2015 9:58 AM
The U.S. construction industry added 45,000 jobs in April according to the May 8 Bureau of Labor Statistics preliminary estimate. March’s estimate was revised downward from -1,000 to -9,000 net new jobs. Nonresidential construction employment increased by 12,400 jobs in April, with nonresidential specialty trade contractors leading the way with 20,200 new jobs. Nonresidential building employment plummeted for the month, losing 7,800 jobs. The residential sector bounced back in April, adding 23,600 jobs.
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Thursday, May 7, 2015 8:50 AM
March, as is to be expected, provided better weather than February, though some parts of the country were hit with severe storms, including spring snow storms. This resulted in a monthly decrease in the March not seasonally adjusted (NSA) construction unemployment rate for the country and in the estimated construction unemployment rates for 43 states.
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Friday, May 1, 2015 11:48 AM
Nonresidential construction spending has now declined during each of the year’s first three months, according to a May 1 report by the U.S. Census Bureau.
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Wednesday, April 29, 2015 11:25 AM
Nonresidential fixed investment fell 3.4 percent in the first quarter of 2015, after expanding 4.7 percent in the fourth quarter of 2014, according to the April 29 gross domestic product (GDP) report by the Bureau of Economic Analysis. Real GDP expanded just 0.2 percent, on a seasonally adjusted annualized rate, during the first quarter, following a 2.2 percent increase during the final quarter of 2014.
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Tuesday, April 14, 2015 11:20 AM
Prices for inputs to construction industries expanded 0.8 percent in March, the largest monthly increase in more than two years, according to the April 14 producer price index release by the Bureau of Labor Statistics. Prices have now expanded for two consecutive months after declining during the prior six; however input prices are down 3.6 percent on a year-over-year basis. March marks the fourth consecutive month year-over-year input prices have declined, the longest such streak since 2009. Crude petroleum prices fell 4 percent in March and have fallen in eight of the previous nine months.
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Wednesday, April 8, 2015 8:34 AM
Bad weather often typifies February across much of the country and this February’s weather was particularly harsh. The not seasonally adjusted (NSA) construction unemployment rate for the country often peaks around February and the nation appears to be on track for that pattern this year. The February construction unemployment rate for the country along with estimated rates for 34 states increased over their respective January rates.
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Tuesday, April 7, 2015 4:12 PM
Measuring employment and unemployment would seem to be straightforward. However, it turns out to be a little more complicated than it first appears. The Bureau of Labor Statistics (BLS) produces the employment statistics for the United States based on a monthly survey conducted by the Census Bureau known as the Current Population Survey (CPS).
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Friday, April 3, 2015 9:41 AM
Nonresidential construction added 5,000 net new jobs in March, with nonresidential specialty trade contractors leading the way by contributing 4,400 new jobs, according to the April 3 Bureau of Labor Statistics preliminary estimate. As a whole, the U.S. construction industry lost 1,000 jobs in March, while February’s construction employment estimate (29,000 new jobs) was unrevised. The residential sector also regressed in March, losing 2,800 jobs.
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