http://www.reedconstructiondata.com/news/ en rcdwebmaster@reedconstructiondata.com Copyright 2009 2009-07-03T19:12:00-05:00 http://www.reedconstructiondata.com/news/2009/07/stock-markets-shuffle-sideways-in-june-doubts-cast-on-consumer-and-construc/?nid=4267 http://www.reedconstructiondata.com/news/2009/07/stock-markets-shuffle-sideways-in-june-doubts-cast-on-consumer-and-construc/#When:19:12:00Z North America’s four major stock market indices shuffled sideways in June. The only month-end to month-end gainer versus May was NASDAQ, at +3.4%. The other three indices stayed flat. Stock markets usually try to get out front of economic activity and profit levels by six months. Indications that much of the negative news was slowing, and in some cases reversing, caused up-ticks in stock prices over the previous several months. However, this momentum has dissipated and uncertainty has set in. Market Insights, Economy & Finance, US, CAN 2009-07-03T19:12:00-05:00 http://www.reedconstructiondata.com/news/2009/07/us-june-labor-market-report-bites-a-chunk-out-of-optimism/?nid=4267 http://www.reedconstructiondata.com/news/2009/07/us-june-labor-market-report-bites-a-chunk-out-of-optimism/#When:19:57:00Z The U.S.  economy has been shedding jobs consistently on a month-to-month basis since January 2008. From January to May of this year, job losses continued, but on a steadily declining basis. Unfortunately, the recent record of relative progress was sidetracked in June, according to the latest labor market report from the U.S.  Bureau of Labor Statistics. In June, the employment drop was -467,000, which was significantly higher than the previous month’s -322,000 figure. This report goes on to examine (in text and graphs) employment changes in key labor market sub-sectors. Market Insights, Economy & Finance, US 2009-07-02T19:57:00-05:00 http://www.reedconstructiondata.com/alex-carrick/post/the-two-biggest-issues-for-the-world-economy/?nid=4267 http://www.reedconstructiondata.com/alex-carrick/post/the-two-biggest-issues-for-the-world-economy/#When:06:00:00Z Market Insights, Economy & Finance, US, CAN 2009-06-29T06:00:00-05:00 http://www.reedconstructiondata.com/news/2009/06/us-residential-construction-markets-take-some-new-twists-and-turns/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/us-residential-construction-markets-take-some-new-twists-and-turns/#When:19:22:01Z Among May’s set of housing statistics released by the U.S. Census Bureau, perhaps the most telling is that the number of new homes sold has stayed almost exactly flat since January 2009, at about 340,000 units. This is important because, with new home starts so low, the unsold inventory has continued to drop. This story also considers positive factors encouraging new home construction markets, negative factors inhibiting them and the most recent levels of starts nationally, regionally and by units. Market Insights, Housing, US 2009-06-26T19:22:01-05:00 http://www.reedconstructiondata.com/news/2009/06/latest-construction-cost-changes-for-51-major-us-cities-as-calculated-by-rs/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/latest-construction-cost-changes-for-51-major-us-cities-as-calculated-by-rs/#When:19:03:00Z The four graphs and single table included with this story encapsulate some of the key results from RSMeans’ Construction Cost Index (CCI) calculations for the latest quarter ending in April, 2009. The overall CCI for the United States as a whole has slipped into decline. The quarter-to-quarter change was -2.0%, which translates to -7.9% on an annualized basis. The total index decline was all due to materials, as installation rates stayed high. There is also an examination of cities based on industrial strengths. Market Insights, Costs & Materials, US 2009-06-26T19:03:00-05:00 http://www.reedconstructiondata.com/news/2009/06/recession-deepens-in-gulf-coast-and-northeast/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/recession-deepens-in-gulf-coast-and-northeast/#When:13:35:00Z All states remain in recession through April (latest data) and likely will through the spring although a few small plains states reported employment rises in May. The recession is deepening only in both the oil & gas districts of the gulf coast and in the financial and intellectual capital centers in the Northeast, reports Reed Construction Data chief economist Jim Haughey. Market Insights, Construction Forecasts, Economy & Finance, US 2009-06-25T13:35:00-05:00 http://www.reedconstructiondata.com/news/2009/06/ranking-states-by-recent-economic-performance-april-2009/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/ranking-states-by-recent-economic-performance-april-2009/#When:13:30:00Z This chart shows the ranking of states by recent economic performance, including data on the last three months (annualized – March) and changes in economic activity for the latest three months (annualized) versus the previous year. Market Insights, Construction Forecasts, Economy & Finance, US 2009-06-25T13:30:00-05:00 http://www.reedconstructiondata.com/news/2009/06/construction-equipment-freefall-set-to-end-soon/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/construction-equipment-freefall-set-to-end-soon/#When:16:05:00Z The construction equipment market through April is in the same freefall as construction spending was earlier in the year, reports Reed Construction Data chief economist Jim Haughey. Market Insights, Economy & Finance, US 2009-06-23T16:05:00-05:00 http://www.reedconstructiondata.com/news/2009/06/zero-inflation-low-short-term-interest-rates-and-construction-prospects-in-/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/zero-inflation-low-short-term-interest-rates-and-construction-prospects-in-/#When:19:50:00Z Inflation and short-term interest rates will remain subdued stretching out into the fall.  But how long-lasting will this be? There are indications that some commodity prices are already starting to emerge from their hibernation. Also, long-term interest rates have almost moved up to pre-recession levels. Central bankers are emphasizing the fragility of the “green shoots” of recovery that are emerging. The emphasis on fragility is their way of trying to talk down wide-spectrum interest rates. Market Insights, Costs & Materials, Economy & Finance, US, CAN 2009-06-22T19:50:00-05:00 http://www.reedconstructiondata.com/news/2009/06/twenty-large-upcoming-entertainment-and-auditorium-stadium-projects-in-the-/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/twenty-large-upcoming-entertainment-and-auditorium-stadium-projects-in-the-/#When:12:49:00Z The accompanying table shows 20 of the largest upcoming entertainment and auditorium/stadium construction projects in the United States. They are all in the planning stage and are mainly new projects, but may also involve additions and/or alterations. Shopping centers, hotels, office buildings, medical buildings, educational buildings, libraries and museums, sports and entertainment complexes, industrial projects and government buildings will all be covered on a rotating basis. Market Insights, Construction Starts, US, Arizona, California, Florida, Kansas, Massachusetts, Michigan, Nebraska, New York, Ohio, Pennsylvania, Wisconsin 2009-06-18T12:49:00-05:00 http://www.reedconstructiondata.com/news/2009/06/construction-materials-prices-rise-in-may-after-seven-month-decline/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/construction-materials-prices-rise-in-may-after-seven-month-decline/#When:20:20:00Z The construction materials price index increased 0.6% in May after declining 10.0% over the previous seven months. Small monthly gains or losses are expected for a few more months before a sustained price rise begins. Asphalt (at the refinery) increased 8.6%, diesel fuel 4.4% and concrete block 3.8%. The major Price declines in May were for nonferrous pipe and tube (-5.3%), builders hardware (-3.5%), gypsum products (-2.4%) and structural steel (-1.3%), says Reed Construction Data chief economist Jim Haughey. Market Insights, Costs & Materials, US 2009-06-17T20:20:00-05:00 http://www.reedconstructiondata.com/news/2009/06/construction-commodity-prices-set-to-rise-again/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/construction-commodity-prices-set-to-rise-again/#When:13:59:00Z Early signs of another commodity price up cycle are beginning to appear. But construction materials prices will probably ebb slightly lower in the next few months before this takes hold. The next surge in materials prices is likely to be somewhat smaller than the 10% jumps over eight months in both 2004 and 2008, reports Reed Construction Data chief economist Jim Haughey. Market Insights, Economy & Finance, RSMeans, US 2009-06-16T13:59:00-05:00 http://www.reedconstructiondata.com/news/2009/06/rsmeans-dollars-per-square-foot-construction-costs-four-recreational-types-/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/rsmeans-dollars-per-square-foot-construction-costs-four-recreational-types-/#When:18:34:00Z Accompanying this report are tables and charts based on RSMeans’ measures of dollar-per-square-foot construction costs. The results for 25 major cities are shown for four recreational types of structure. The most expensive to build is an enclosed swimming pool. The second-most expensive is a hockey rink/indoor soccer arena. Relatively inexpensive are a racquetball court, followed by a bowling alley. It is almost 30% cheaper to build a bowling alley than an indoor swimming pool. Regional comparisons are also discussed. Market Insights, Costs & Materials, US, Arizona, California, Florida, Georgia, Illinois, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New York, Ohio, Pennsylvania, Texas, Washington 2009-06-12T18:34:00-05:00 http://www.reedconstructiondata.com/news/2009/06/construction-starts-rise-in-may/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/construction-starts-rise-in-may/#When:14:25:00Z Reed Construction Data (RCD) announced today that the year-to-date value of construction starts through May 2009, excluding residential contracts, totaled $97.3 billion, 6.2% less than in the same period in 2008. Individual-month-of-May starts increased 16% from April, significantly more than the usual seasonal increase. However, May starts were 20% below last December, says Reed Construction Data chief economist Jim Haughey. Market Insights, Construction Starts, US 2009-06-12T14:25:00-05:00 http://www.reedconstructiondata.com/news/2009/06/an-economic-world-of-mixed-messages-us-retail-sales-north-american-stock-ma/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/an-economic-world-of-mixed-messages-us-retail-sales-north-american-stock-ma/#When:19:08:00Z It is an economic world of mixed messages at present. This report examines labor markets, North American stock market indices, the value of the greenback, world commodity prices and U.S.  retail sales. Banks, businesses and consumers are cleaning up their finances.  The consequent de-leveraging in lending and spending will prolong the recovery phase. In a perhaps appropriate response to challenging circumstances, the one sector of the economy that has shifted to profligacy is government. Market Insights, Economy & Finance, US, CAN 2009-06-11T19:08:00-05:00 http://www.reedconstructiondata.com/news/2009/06/the-norfolk-virginia-beach-newport-news-economy-makes-headway-in-the-second/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/the-norfolk-virginia-beach-newport-news-economy-makes-headway-in-the-second/#When:15:16:00Z As we approach the second half of 2009, it is clear that the Norfolk/Virginia Beach/Newport News economy is still shrinking. In April, employment was down by 0.8% year over year, equivalent to 6,400 jobs. However, when compared to the country as a whole where employment is down by 3.8% year over year, the metro area’s economic health takes on a much rosier hue. Market Insights, Economy & Finance, US, Virginia 2009-06-11T15:16:00-05:00 http://www.reedconstructiondata.com/news/2009/06/tech-sector-strength-bodes-well-for-san-joses-recovery-in-the-second-half-o/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/tech-sector-strength-bodes-well-for-san-joses-recovery-in-the-second-half-o/#When:15:01:00Z San Jose has been hit hard by the effects of the sub-prime mortgage meltdown. The unemployment rate is higher than all but five of the fifty largest metro areas in the country, due to a 4.4% year-over-year drop in employment. Market Insights, Economy & Finance, US, California 2009-06-11T15:01:00-05:00 http://www.reedconstructiondata.com/news/2009/06/construction-spending-up-in-april-below-initial-march-estimate/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/construction-spending-up-in-april-below-initial-march-estimate/#When:20:44:00Z April construction spending increase is misleading. The report that April construction spending increased 0.8% from March does not mean that the construction rebound has begun. Total spending in April was 0.1% below the total initially reported for March because both February and March construction spending were revised about 1% lower, says Reed Construction Data chief economist Jim Haughey. Market Insights, Commercial Building & Heavy Engineering, Construction Forecasts, Economy & Finance, Housing, US 2009-06-09T20:44:00-05:00 http://www.reedconstructiondata.com/news/2009/06/heavy-construction-spending-up-in-april/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/heavy-construction-spending-up-in-april/#When:20:37:00Z Heavy construction spending rose 2.5% in % April and is only marginally below the peak level late last year. However, there were substantial layoffs reported in May by both heavy general contractors and their subcontractors. The negative impact of collapsing public budgets and private capacity needs has not yet been offset by the positive impact of the stimulus construction program, says Reed Construction Data chief economist Jim Haughey. Market Insights, Commercial Building & Heavy Engineering, Construction Forecasts, Economy & Finance, US 2009-06-09T20:37:00-05:00 http://www.reedconstructiondata.com/news/2009/06/nonresidential-building-construction-spending-steady-in-april/?nid=4267 http://www.reedconstructiondata.com/news/2009/06/nonresidential-building-construction-spending-steady-in-april/#When:20:34:01Z Jobsite spending on nonresidential building construction fell a nominal 0.1% in April after increasing for two months. Current spending is about 3% below the peak level last October. However, the value of starts has plunged nearly 50% since peaking last August so the amount of work underway will continue to shrink. A 6-7% decline is expected from April to yearend, says Reed Construction Data chief economist Jim Haughey. Market Insights, Commercial Building & Heavy Engineering, Construction Forecasts, Economy & Finance, US 2009-06-09T20:34:01-05:00