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Posts Tagged ‘Economic’

ConstructConnect’s YTD Starts +2% after May’s Rise of +5%

Tuesday, June 20th, 2017

Article source: ConstructConnect

ConstructConnect announced today that May construction starts, excluding residential activity, were +5% versus April. The modest rise fell a little short of the usual percentage change between April and May, due to seasonality, of +8%.

2017-06-12-US-Nonresidential-Construction-Starts-Apr-2017

Versus May of last year, nonresidential starts in the fifth month of this year were +2.0%.

Compared with January through May of last year, the year-to-date volume of starts in 2017 has been +1.9%.

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 April report was 56%; the latter’s was 44%.

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., May 2017) is one month ahead of the reporting period for the investment series (i.e., April 2017.)
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Top 10 Project Starts in the U.S. – May 2017

Friday, June 16th, 2017

Article source: ConstructConnect

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

2017-06-12-Top-10-US-Projects-May-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.

Also, total construction activity is comprised of many small and medium-sized projects and a limited number of large developments. But the largest projects, simply by their nature, can dramatically affect total dollar and square footage volumes. In other words, the timing and size of these projects have an exaggerated influence on market forecasts.

(more…)

Nonresidential Construction Starts Trend Graphs – May 2017

Tuesday, June 13th, 2017

Article source: ConstructConnect

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

2017-06-12-US-Nonresidential-Construction-Start-Trends-May-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. (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…)

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…)

9% Drop in ConstructConnect’s January Starts Matches Usual Seasonality

Wednesday, March 1st, 2017

Article source: ConstructConnect

ConstructConnect announced today that January’s level of U.S. construction starts, excluding residential activity, was $24.6 billion, a decrease of 9.1% versus the dollar volume in the period before. The month-to-month drop was almost an exact match for the usual December-to-January decline of -8.5%. Due to harsh winter weather – which is another way of saying ‘seasonality’ – January is traditionally the worst month of the year for construction groundbreakings or starts.

2017-02-27-US-Nonresidential-Construction-Starts-Jan-2017

Starts in January 2017 versus their level in January 2016 were also down, -11.6%. January 2017 compared with average January starts over the five years, 2012 to 2016, was +6.0%.

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 December report was 61%; the latter’s was 39%.

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., January 2017) is one month ahead of the reporting period for the investment series (i.e., December 2016.)
(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…)

ConstructConnect’s December Starts Defied Seasonality With 3.4% Increase

Friday, January 20th, 2017

Article source: ConstructConnect

ConstructConnect announced today that December’s level of U.S. construction starts, excluding residential activity, was $24.0 billion, an increase of 3.4% versus the dollar volume in the period before. The gain, small though it may have been, was welcome nonetheless since November-to-December’s long-term average change, on account of inhibiting winter weather, has been -5.0%.

December of 2016, however, compared with December of 2015 was -5.6%. But it’s encouraging that total nonresidential starts for full year 2016 stayed ahead of full-year 2015 by +6.8%.

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 November report was 61%; the latter’s was 39%.

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., December 2016) is one month ahead of the reporting period for the investment series (i.e., November 2016.)

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