United States News
See other United States News Articles
Title: Construction Spending Declines in February (Ouch!)
Source:
[None]
URL Source: [None]
Published: Apr 1, 2010
Author: Caculated Risk
Post Date: 2010-04-01 17:54:27 by Nebuchadnezzar
Keywords: None
Views: 372
Comments: 17
Construction Spending Declines in February by CalculatedRisk on 4/01/2010 10:20:00 AM Private residential construction spending has turned down again over the last few months. I expect some growth in residential spending in 2010, but the increases will probably be sluggish until the large overhang of existing inventory is reduced. Private non-residential spending decreased in February, and is now at the lowest level since July 2006. The collapse in non-residential construction spending continues ... The first graph shows private residential and nonresidential construction spending since 1993. Note: nominal dollars, not inflation adjusted. Private residential construction spending is now 62.9% below the peak of early 2006. Private non-residential construction spending is 29.0% below the peak of late 2008. The second graph shows the year-over-year change for private residential and nonresidential construction spending. Nonresidential spending is off 24.3% on a year-over-year (YoY) basis. Residential construction spending is down 3.8% from a year ago, and the negative YoY change is getting smaller. Residential spending will probably exceed non-residential spending later this year - mostly because of continued declines in non-residential spending as major projects are completed. Here is the report from the Census Bureau: February 2010 Construction at $846.2 Billion Annual Rate The U.S. Census Bureau of the Department of Commerce announced today that construction spending during February 2010 was estimated at a seasonally adjusted annual rate of $846.2 billion, 1.3 percent below the revised January estimate of $857.8 billion. The February figure is 12.8 percent below the February 2009 estimate of $970.4 billion.
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
Begin Trace Mode for Comment # 2.
#2. To: Nebuchadnezzar (#0)
Do you need to have the word "recession" defined for you?
#3. To: war (#2)
Hey, tell me about "second derivative" on that blue line and how it demonstrates a "recovery". I've never seen so many indicators turning south or accelerating south in a "recovery".
Top • Page Up • Full Thread • Page Down • Bottom/Latest
Replies to Comment # 2.
End Trace Mode for Comment # 2.
[Home] [Headlines] [Latest Articles] [Latest Comments] [Post] [Mail] [Sign-in] [Setup] [Help] [Register]