construction spending

Homebuilders Missing Out on the Economic Recovery

For homebuilders, it hardly feels like an economic recovery. Nearly two years after the recession ended, the pace of construction is less than half the level considered healthy. That weakness is weighing on the economy: Though new homes represent a small portion of overall sales, they have an outsized effect on jobs.

Week in Preview: Employment, Bernanke & More Retail Earnings

This week we turn the calendar page, and that change brings with it a raft of economic data. Fed Chairman Ben Bernanke will deliver his semiannual monetary policy testimony before Congress, while Wall Street waits on more earnings reports.

In Construction, a Year of Flat Growth Would Be Welcome

If you want to see how the construction industry will do in 2011, look at how the architects did in 2010. By that gauge, last year's thin uptick in spending on building design and engineering services foretells a similar small gain ahead for builders -- and after two years of steep declines, any growth at all is welcome news.

China Beckons West Coast Architecture and Building Firms

China's construction growth, fed by a thriving economy and a massive population movement from rural to urban areas, will dwarf that of the U.S. over the next ten years, giving building companies with a West Coast presence a chance to offset the effects of sluggish domestic construction demand by hawking their expertise overseas.

Rising Bullishness: A Sign to Sell or Justified Optimism?

A supposed truism on Wall Street is that betting against the crowd is always a wise move. And these days, the crowd is decidedly bullish. Yes, that's often a sign that the end is near. But right now, a good argument can be made that things will still get better.

Housing Starts: Another Small Gain in November

The U.S. housing sector took another modest step forward in November as housing starts rose a better-than-predicted 3.9% to a 530,000-unit annual rate. Still, at the current rate of recovery, the nation remains about 18 months to 2 years away from seeing normal levels of home building.

Construction Spending Rose 0.7% in October

The measure was boosted by the second straight monthly rise in private construction spending. Single-family homes posted their biggest gain in six months Still, it's way too soon to declare an end to the private building slump.

Can Hong Kong Gently Deflate Its Real Estate Bubble?

Hong Kong took a new step this week to let some air out of its real estate bubble, levying a heavy tax on property flippers -- a move that has already sent asking prices there downward. But Hong Kong's real estate risks are dwarfed by those in Mainland China.

Construction Spending Edges Up on Public Projects

U.S. construction spending%u2019s unexpected 0.5% rise in September was tempered somewhat by the fact that August%u2019s tally was revised downward to an 0.2% spending decrease, considerably worse than the initially estimated 0.4% gain.

Stimulus Lifts Construction Spending in August

Boosted by government projects, construction spending unexpectedly rose 0.4% in August. Though a single monthly gain hardly means the sector%u2019s long contraction is over, the data does hint that the period of large, monthly construction spending declines may be ending.

Construction Sector Woes Worse Than Expected in July

The U.S. construction industry went from bad to worse in July, and then retroactively worse still. The Commerce Department announced Wednesday that spending in the sector fell a worse-than-expected 1% in July, and revised June's estimate downward from a 0.1% increase to an 0.8% decline.

Mixed News on Construction Spending

Boosted by the government's fiscal stimulus, construction spending unexpectedly rose 0.1% in June, the Commerce Department said. However, June's mild good news was offset by a large, downward revision to a 1% spending decline from a previously-announced 0.2% decline for May.

U.S. Housing Starts Fell 5% to 549,000 in June

U.S housing starts fell 5% to a seasonally adjusted annual rate of 549,000 in June as apartment construction and single-family houses dropped. The number of single-family housing starts fell 0.7% to an annual rate of 454,000, the Commerce Department said in a statement.

March Construction Spending Shows Surprise Gain

Boosted by a rise in public construction projects, construction spending unexpectedly rose 0.2% in March, the Commerce Department said. It was the index's first rise since October 2009, but construction spending is still down 12.3% on a year-over-year basis.

Construction Spending Plunged Record 12.4% in 2009

U.S. construction spending slumped in December for the fifth time in six months, falling 1.2% to close out a record 12.4% spending decline for all of 2009, the U.S. Commerce Department said, as excess housing inventory sidelined private sector construction.