NAHB is highlighting the financial incentives of
remodeling and offering suggestions for consumers on projects that provide the
best return on investment, including improvement in energy efficiency.
“The Federal Open
Market Committee decided today to lower its target for the federal funds rate 25 basis points to 4-1/4%,” the
Federal Reserve has reported.
Construction spending
in October, at a seasonally adjusted annual rate of $1.158 trillion, fell
0.8 percent from September and 0.6 percent from October 2006, according to the Census Bureau.
Reports
from the 12 Federal Reserve Districts suggest that the national economy continued to expand during the survey period of
October through mid-November but at a reduced pace compared with the previous
survey period.
Employment rose 166,000 in October and 1.6 million over 12 months, the Bureau of Labor Statistics reported today. The unemployment rate held steady at 4.7%.
Although there appears to be no let-up to
the current housing downswing, economists participating in the National
Association of Home Builders Fall Construction Forecast Conference Oct. 24 said
they expect the industry to bottom out and to start turning around in 2008.
The U.S. Census Bureau of the Department of
Commerce announced that construction spending during June 2007 was estimated at
a seasonally adjusted annual rate of $1,175.4 billion, 0.3 percent (±1.4
percent) below the revised May estimate of $1,178.4 billion.
The U.S. Census Bureau and the
Department of Housing and Urban Development jointly announced the following new
residential construction statistics for June 2007.
While construction employment hasn’t fallen as
fast as the housing collapse would indicate, according to a recent ADP National
Employment Report, U.S. construction jobs could fall by 250,000 by the end of
next year.
The U.S. Census Bureau of
the Department of Commerce announced June 29 that construction spending during
May 2007 was estimated at a seasonally adjusted annual rate of $1,176.6 billion
(0.9 percent) above the revised April estimate of $1,166.0 billion.
Evidence that nonresidential construction
remains robust came from Reed Construction Data, which reported on May 14 that
the January-April value of nonresidential construction starts from Reed’s
database was 22% higher than in the same months of 2006.
The PPI for finished goods increased 0.7% in April, seasonally adjusted, following advances of 1% in March and 1.3% in February, the Bureau of Labor Statistics (BLS) reported.
The consumer price index for all urban consumers rose by a moderate 0.2%, seasonally adjusted, in September and a mere 1.5% over the September 2001 level, the Bureau of Labor Statistics reported today.
