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Title: Construction Spending Declines in February (Ouch!)
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Published: Apr 1, 2010
Author: Caculated Risk
Post Date: 2010-04-01 17:54:27 by Nebuchadnezzar
Keywords: None
Views: 289
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.
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Begin Trace Mode for Comment # 5.
#2. To: Nebuchadnezzar (#0)
Do you need to have the word "recession" defined for you?
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".
I challenge you to produce a post of mine in which I have characterized that housing construction is in a sustained recovery...
WTF for? You're the one challenging me buddy. Why are you taking my posts so personal? Do you think they are addressed to you? I don't remember pinging you. I ping you when a comment is directed specifically at you. You appear to be very defensive.
#6. To: Nebuchadnezzar (#5)
(Edited)
I'm not your buddy Boofer...I don't take anything personally. That said, you've posted something that is neither interesting nor new and my comments were premised on that observation. Yes, we were in a recession. Yes it was longer and deeper than some to most anticipated. We get it. We get that coming out of a recession takes time. It's not like throwing a switch and the light comes on. I ping you when a comment is directed specifically at you. SIGH...does the internet need to be explained to you? Does it need to be explained that when YOU post an article on a public website that it can be commented upon? Does it need to be explained to you that when YOU post and article and a comment is made upon that article the comment is, by default, directed at YOU?
lmao. He always gets defensive when Democrats look bad. The only self proclaimed libertarain to do so in world history, btw. We're seeing 'false positives' related to the economy. You can't throw this much cash into the system without some upticks. But thats going to run its course over the summer, and 2011 the final plunge begins in earnest. You document the reality here, and leftwingnuts Hate It, as you apparently are seeing. Thanks for posting it, not because it drives the kooks crazy, but because its REAL.
"BALANCE the BUDGET...ABOLISH ALL FEDERAL PENSIONS...PAST, PRESENT, AND FUTURE!!" The BureaucRATS CAUSED this friggin' mess...we cannot afford to reward incompetent RATS fer being incompetent RATS!! Make taxes to pay fer the lavish lifestyles of the RulingElite VOLUNTARY to WeThePeople...we'll use a check-off if we wanna send a coupla thousand bucks each year to support those who have bankrupted America and demean the folks who are paying the salaries!! I'm purty shore we can write this up in Constitutional Amendment Form...MUD
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#3. To: war (#2)
#4. To: Nebuchadnezzar (#3)
#5. To: war (#4)
I challenge you to produce a post of mine in which I have characterized that housing construction is in a sustained recovery...
Replies to Comment # 5.
#7. To: Nebuchadnezzar (#5)
#9. To: Nebuchadnezzar (#5)
(Edited)
End Trace Mode for Comment # 5.
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