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Nonresidential Construction Starts Trend Graphs – April 2017

Thursday, May 18th, 2017

Article source: ConstructConnect

Clichés are often true and it is the case that a picture can be worth a thousand words.

2017-04-18-US-Nonresidential-Construction-Start-Trends-Mar-2017

Below are six graphs recording 12-month moving averages of ConstructConnect ’s nonresidential construction starts.

When the value of the current month is higher than for the same month a year ago, the line will turn up; when lower, it will dip.

String a couple of similar positive or negative directional changes together over several months and one has a trend.

And that’s what the graphs are designed to do, show improving or deteriorating trends in a dozen major and more granular categories of construction work.

U.S. Nonresidential Construction Starts ‒ ConstructConnect
(12-month moving averages)

U.S. Non-residential Construction Starts ‒ ConstructConnect

Source and Chart: ConstructConnect.

U.S. Commercial & Institutional Construction Starts ‒ ConstructConnect
(12-month moving averages)

U.S. Commercial & Institutional Construction Starts ‒ ConstructConnect

Source and Chart: ConstructConnect.

U.S. Retail & Private Office Building Construction Starts ‒ ConstructConnect
(12-month moving averages)

U.S. Retail & Private Office Building Construction Starts ‒ ConstructConnect

Source and Chart: ConstructConnect.

U.S. Hospital/Clinic & School/College Construction Starts ‒ ConstructConnect
(12-month moving averages)

U.S. Hospital/Clinic & School/College Construction Starts ‒ ConstructConnect

Source and Chart: ConstructConnect.

U.S. Road/Highway & Water/Sewage Construction Starts ‒ ConstructConnect
(12-month moving averages)

U.S. Road/Highway & Water/Sewage Construction Starts ‒ ConstructConnect

Source and Chart: ConstructConnect.

U.S. Bridges & Miscellaneous Civil Construction Starts ‒ ConstructConnect
(12-month moving averages)

U.S. Bridges & Miscellaneous Civil Construction Starts ‒ ConstructConnect

Source and Chart: ConstructConnect.

 

ConstructConnect’s YTD Starts -2% after April Softens -7%

Tuesday, May 16th, 2017

Article source: ConstructConnect

ConstructConnect announced today that its April construction starts, excluding residential activity, were -7% versus March. The usual seasonal pattern is for a 12% increase month to month at this time of year, as blustery winter mellows into gentler spring.

April of this year compared with average April results over the prior five years, 2012-2016, was +17.6%. Year-to-date starts so far in 2017 have been -2% compared with the same first four months of last year.

The starts figures throughout this report are not seasonally adjusted (NSA). Nor are they altered for inflation. They are expressed in what are termed ‘current’ as opposed to ‘constant’ dollars.
(more…)

Nonresidential Construction Starts Trend Graphs – March 2017

Monday, April 24th, 2017

Article source: ConstructConnect

Clichés are often true and it is the case that a picture can be worth a thousand words.

2017-04-18-US-Nonresidential-Construction-Start-Trends-Mar-2017

Below are six graphs recording 12-month moving averages of ConstructConnect ’s nonresidential construction starts.

When the value of the current month is higher than for the same month a year ago, the line will turn up; when lower, it will dip.

String a couple of similar positive or negative directional changes together over several months and one has a trend.

And that’s what the graphs are designed to do, show improving or deteriorating trends in a dozen major and more granular categories of construction work.

 

U.S. Nonresidential Construction Starts ‒ ConstructConnect
(12-month moving averages)

U.S. Non-residential Construction Starts ‒ ConstructConnect

Source and Chart: ConstructConnect.

U.S. Commercial & Institutional Construction Starts ‒ ConstructConnect
(12-month moving averages)

(more…)

Top 10 Project Starts in the U.S. – March 2017

Friday, April 21st, 2017

Article source: ConstructConnect

The accompanying table records the top 10 project starts in the U.S. for March 2017.

2017-04-18-Top-10-US-Projects-Mar-2017
(more…)

Springy Bounce in ConstructConnect’s March Starts, +18%

Wednesday, April 19th, 2017

Article source: ConstructConnect

ConstructConnect announced today that March construction starts, excluding residential activity, were +17.8 versus February. The long-term February-to-March advance, due to seasonality, has been only +2.5%. It’s usually not until April that more accommodating weather causes a big lift in volume of about +12.0%. Spring has apparently come early for groundbreakings this year.

2017-04-18-US-Nonresidential-Construction-Starts-Mar-2017
March 2017 versus what was an exceptionally buoyant March 2016 did not fare as well, -5.9%. And year-to-date starts (Q1 2017) have been -5.1% versus January-to-March of last year.


The starts figures throughout this report are not seasonally adjusted (NSA). Nor are they altered for inflation. They are expressed in what are termed ‘current’ as opposed to ‘constant’ dollars.

‘Nonresidential building’ plus ‘engineering/civil’ work accounts for a considerably larger share of total construction than residential activity. The former’s combined proportion of total put-in-place construction in the Census Bureau’s February report was 60%; the latter’s was 40%.

ConstructConnect’s construction starts are leading indicators for the Census Bureau’s capital investment or put-in-place series. Also, the reporting period for starts (i.e., March 2017) is one month ahead of the reporting period for the investment series (i.e., February 2017.)

View this information as an infographic.
(more…)

ConstructConnect’s -2% February Starts Almost Hold Their Ground

Thursday, March 23rd, 2017

Article source: ConstructConnect

ConstructConnect announced today that February starts, excluding residential activity, nearly held their own versus an upwardly revised January. The latest month’s level of $26.2 billion was only -1.7% compared with the volume in the month before.

2017-03-21-US-Nonresidential-Construction-Starts-Feb-2017

Throughout the long-term history of the starts, there has been a typical drop – due to weather-related factors − of -2.5% between January and February. Harsh conditions in winter can put a halt to field work. February, however, is the last in a string of months during which starts tend to decline period-to-period on account of seasonality. From March through July, the tendency is for starts to pick up from one month to the next.

Starts in February 2017 versus what was an exceptionally strong February 2016 were -9.2%. Year-to-date starts in 2017 compared with January-to-February of last year were -7.5%.

The starts figures throughout this report are not seasonally adjusted (NSA). Nor are they altered for inflation. They are expressed in what are termed ‘current’ as opposed to ‘constant’ dollars.

‘Nonresidential building’ plus ‘engineering/civil’ work accounts for a considerably larger share of total construction than residential activity. The former’s combined proportion of total put-in-place construction in the Census Bureau’s January report was 60%; the latter’s was 40%.
(more…)

Top 10 Project Starts in the U.S. – February 2017

Tuesday, March 21st, 2017

Article source: ConstructConnect

The accompanying table records the top 10 project starts in the U.S. for February 2017.

2017-03-21-Top-10-US-Projects-Feb-2017

There are several reasons for highlighting upcoming large projects. Such jobs have often received a fair amount of media coverage. Therefore, people in the industry are on the lookout for when jobsite work actually gets underway. And, as showcase projects, they highlight geographically where major construction projects are proceeding.

(more…)

Nonresidential Construction Starts Trend Graphs – February 2017

Monday, March 20th, 2017

Article source: ConstructConnect

Clichés are often true and it is the case that a picture can be worth a thousand words.

2017-03-21-US-Nonresidential-Construction-Start-Trends-Feb-2017

Below are six graphs recording 12-month moving averages of ConstructConnect ’s nonresidential construction starts.

When the value of the current month is higher than for the same month a year ago, the line will turn up; when lower, it will dip.

String a couple of similar positive or negative directional changes together over several months and one has a trend.
(more…)

A Dozen Mid-March Economic Nuggets

Monday, March 13th, 2017

Article source: ConstructConnect

Further big improvements in America’s labor market statistics at the beginning of this year – with net new jobs creation climbing by almost half a million (+473,000) and the unemployment rate falling to a tight 4.7% − have convinced many analysts that the Federal Reserve will be acting quite aggressively in 2017 to hike interest rates. Where before there was an expectation that the federal funds rate would be lifted two or three times through December, by 25 basis points on each occasion (with 100 basis points equaling 1.00%), the consensus now is for an upward adjustment more frequently, either three or four times.

The Fed is probably hoping to attain, in easy-to-absorb stages over this year and next, a key policy-setting rate close to 3.00%. Nor are stock markets viewing such a prospect with anything like the same amount of dread as in the not so distant past. Share prices have been on a roll that has taken them to all-time highs.

Canada’s most recent employment report had a bottom line figure that wasn’t particularly outstanding (i.e., net new jobs of +15,000 in February), but included in the detail was an impressive increase in full-time staffing (+105,000), with most of the gain (+84,000) coming among what are termed ‘core-aged’ women (i.e., females 25-to-54 years of age).
(more…)

A Composite Ranking of Job Markets in 50 U.S. and 33 Canadian Cities

Friday, February 24th, 2017

Article source: ConstructConnect

Trying to get a handle on the relative performances of city labor markets is complicated by the fact that strength and weakness in the two most important indicators – jobs growth and the unemployment rate – are the reverse of each other.

What’s most desirable is a high rather than a low employment growth figure. But with respect to a jobless number, the wish is for a low rather than a high number.

There is a relatively simple means to circumvent this problem. First, rank all the cities under consideration according to their year-over-year jobs growth, fastest to slowest. Then compile a second listing according to unemployment rates, smallest to biggest.

The third critical stage is to calculate the average ranking for each city from steps one and two and to use that new number to place them in order by their ‘composite’ ranking.

The results for the 50 largest (by population) metropolitan statistical areas (MSAs) in the U.S. are shown in Table 1. Table 2 is similar for Canada, showcasing the nation’s 33 census metropolitan areas (CMAs).

(more…)

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