Tag: construction spending

Manufacturing Construction Spending Continued to Rise Sharply in May

The Census Bureau said that private, nonresidential manufacturing construction spending rose sharply, up 6.2 percent in May to an annualized $89.69 billion. This represents a significant shift upward over the past year in construction activity for the sector, up from $52.73 billion in May 2014 and $65.68 billion in December 2014. On a year-over-year basis, manufacturing construction has increased by a whopping 70.1 percent. Moreover, the current level is yet another all-time high for this data series, suggesting that manufacturers are confident enough in their outlook to warrant additional investments. (continue reading…)

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Monday Economic Report – June 8, 2015

Here is the summary for this week’s Monday Economic Report: 

The Federal Reserve’s Beige Book reported that the economy expanded modestly in its recent assessment. More importantly, it said that activity for manufacturers “held steady or increased over the reporting period” in all of its regions except for the Dallas and Kansas City districts. Those two regions have been rocked by lower crude oil prices and sluggish export growth in particular. Yet, beyond those challenges, the Federal Reserve noted some improvements in retail spending (especially for motor vehicles), housing and employment. Despite this mostly upbeat economic analysis, the Federal Reserve is keenly aware of the challenges that exist in the marketplace, as noted in the minutes of the most recent Federal Open Market Committee meeting. Indeed, data released last week continue to reflect a softer-than-desired level of activity in many areas, even as manufacturers might remain cautiously optimistic about the future and some of the measures rebounded somewhat. (continue reading…)

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Manufacturing Construction Spending Rose 2.7 Percent in April

The Census Bureau said that manufacturing construction increased 2.7 percent in April, rising to an annualized $76.22 billion. This was the third consecutive month in which this figure reached an all-time high, surpassing the $66.43 billion observed in March 2009. Moreover, this report seems to indicate that manufacturers are willing to invest for the future, brushing off the current weaknesses in the economy and focusing more on a brighter outlook. Indeed, manufacturing construction has jumped significantly over the past 12 months, up from $49.64 billion in April 2014, or a whopping 53.5 percent. (continue reading…)

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Monday Economic Report – May 4, 2015

Here is the summary for this week’s Monday Economic Report: 

The U.S. economy stagnated in the first quarter, with real GDP growing by just 0.2 percent. This compares to a consensus estimate of 1.1 percent, and it was lower than the 5.0 percent and 2.2 percent growth rates observed in the third and fourth quarters of 2014, respectively. As one might expect from a data point that is just shy of zero, the underlying contributions to growth were mixed. Net exports and government spending were drags on activity in the first quarter, particularly with headwinds from a stronger dollar. Consumer spending on goods and nonresidential fixed investment were also weak, with the latter experiencing sharp declines stemming from the energy market and its supply chain. The bright spots—to the extent that you could call them that—were service-sector spending and a rebound in inventories. (continue reading…)

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Monday Economic Report – March 9, 2015

Here is the summary for this week’s Monday Economic Report:

According to the latest NAM/IndustryWeek Survey of Manufacturers, which will be released this morning, business leaders remain mostly confident about activity over the coming months. In fact, 88.5 percent of respondents said they were either somewhat or very positive about the own company’s outlook, and the data are consistent with 3 percent growth in manufacturing production over the next two quarters. Yet, manufacturers who replied to this survey were slightly less upbeat than they were three months ago, when 91.2 percent of respondents were positive in their outlook. Sales, exports and hiring expectations over the next 12 months also decelerated slightly, even as they remain improved from the paces seen a year ago. (continue reading…)

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Monday Economic Report – February 9, 2015

Here is the summary for this week’s Monday Economic Report: 

Manufacturers in the United States have added roughly 18,800 workers per month on average over the past 13 months, with an average of 29,000 from October through January. This suggests that the momentum in demand and production in the second half of 2014 has led to an uptick in hiring, which is encouraging. Income growth was also higher, with average weekly earnings up 2.0 percent year-over-year in January. At the same time, the larger economy has also seen strong growth, with nonfarm payrolls increasing by nearly 260,000 per month since the end of 2013. The unemployment rate edged up to 5.7 percent, however, as more Americans re-entered the labor force looking for work. The participation rate rose from 62.7 percent to 62.9 percent. (continue reading…)

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Manufacturing Construction Spending Rose in December, Was Up Strongly in 2014

The Census Bureau said that manufacturing construction increased 1.9 percent in December, rising to an annualized $60.39 billion. This was the highest level since May 2009. Manufacturers spending on construction projects were up sharply from the $51.04 pace observed in December 2013, representing a year-over-year increase of 18.3 percent. As such, this data suggests that manufacturing leaders have enough confidence in their outlook to warrant additional construction investment, which is encouraging. (continue reading…)

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Monday Economic Report – January 5, 2015

Here is the summary for this week’s Monday Economic Report: 

Growth in manufacturing activity slowed somewhat in December, according to the Institute for Supply Management (ISM). The headline purchasing managers’ index (PMI) dropped from 58.7 in November to 55.5 in December, its lowest level in six months. Slower global growth, reduced commodity prices and the West Coast ports slowdown were cited in the ISM report as reasons for the decline. While this report was disappointing, it is notable that the lower figure followed several months of very healthy expansions in both new orders and production, and manufacturers were more upbeat at year’s end than earlier in the year. The manufacturing PMI data averaged 57.7 in the second half of 2014, an improvement from the 54.0 average observed in the first half. (continue reading…)

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Monday Economic Report – December 8, 2014

Here is the summary for this week’s Monday Economic Report: 

This morning, we will release the results from the latest NAM/IndustryWeek Survey of Manufacturers. Business leaders continue to reflect optimism about the coming months, with 91.2 percent of survey respondents saying they are either somewhat or very positive about their own company’s outlook. Moreover, manufacturers predict growth of 4.5 percent in sales and 2.1 percent in employment  over the next 12 months, with both experiencing the strongest pace in at least two years. (continue reading…)

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Manufacturing Construction Rebounded in November

The Census Bureau said that manufacturing construction increased 3.4 percent in October, rebounding from the 0.9 percent decline observed in September. Manufacturers devoted an annualized $57.42 billion to construction projects in October, up from $55.55 billion in September. More importantly, it was up from $46.67 billion in October 2013, with a year-over-year gain of 23.0 percent. This upward trend bodes well for the manufacturing sector, suggesting that business leaders have enough confidence in their outlook to warrant additional construction investment. (continue reading…)

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