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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: 291
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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#1. To: All (#0)
Second graph: That blue line sure is bad.
Goldi-Lox: You're one dumb-fucking bitch.
Do you need to have the word "recession" defined for you?
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
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".
Goldi-Lox: You're one dumb-fucking bitch.
I challenge you to produce a post of mine in which I have characterized that housing construction is in a sustained recovery...
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
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.
Goldi-Lox: You're one dumb-fucking bitch.
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?
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
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.
my anti groupie can't get through life without me.
Moron...I AGREE with what he posted. It's consistent with what I've predicted. You really are a dumbfuck, Boof.
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
"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
"Devolve Power Outta the Federal Leviathan and Back to the States, Opps Richard Cranium, I guess you forgot you posted this little defensive blurb earlier today: I challenge you to produce a post of mine in which I have characterized that housing construction is in a sustained recovery.. Don't get defensive friend, you need to chill out and relax. It's a fucking website,not something to be taken seriously.
Goldi-Lox: You're one dumb-fucking bitch.
Agreed. One has to expect some uptick from the irresponsible $850 billion stimulus bill. But at what cost? When it runs out, and we're seeing that the housing industry is already starting to turn south again, are they just going to dump another $1 TRILLION into the economy again? And we're well past the point where each dollar borrowed returns little or nothing in GDP growth. And which of the libs on this board is the Libertarian???
Goldi-Lox: You're one dumb-fucking bitch.
You post these comments to me as if I am in some sort of chasmic sized disagreement with you on this subject when you know that is not true. If I had the inclination, I'd be curious to search ther LP database to see what your opinions were in 2006 and 2007 when I was warning of the pending implosion.
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
The cowardly one....(chuckle) Today as a direct result of massive federal hiring, Owe-bama is bragging about 'new job creation'. The fact half of it is temporary work that won't last past August seems to escape him.
my anti groupie can't get through life without me.
Private Payrolls +123K Government +39K Ex census workers +114K What were you "saying" about being able to read, Boof?
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
Temp workers: 44K. They don't count, nor do the census workers. A bogus, bullshit jobs report if you ask me, given the promises of 300K.
Goldi-Lox: You're one dumb-fucking bitch.
Who promised 300K?
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
They don't count, nor do the census workers. Chuckles...can't wait to hear this logic...why?
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
#2. To: Nebuchadnezzar (#0)
#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...
#6. To: Nebuchadnezzar (#5)
(Edited)
#7. To: Nebuchadnezzar (#5)
#8. To: Boofer (#7)
#9. To: Nebuchadnezzar (#5)
(Edited)
Localities, and Individuals as Prescribed in the US Constitution."
#10. To: war (#6)
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?
#11. To: Badeye (#7)
e'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.
#12. To: Nebuchadnezzar (#10)
#13. To: Nebuchadnezzar (#11)
And which of the libs on this board is the Libertarian???
#14. To: Boofer (#13)
Today as a direct result of massive federal hiring
#15. To: war (#14)
#16. To: Nebuchadnezzar (#15)
#17. To: Nebuchadnezzar (#15)
Temp workers: 44K.
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