Existing home sales softened after an exceptional year, decreasing 2.8 percent to a seasonally adjusted annual rate of 5.49 million in December from an upwardly revised 5.65 million in November. The National Association of Realtors called 2016 the best year for existing home sales in a decade. Sales for the year totaled 5.45 million, surpassing […]
New residential sales of single-family homes fell 10.4 percent from November’s revised rate of 598,000 to a seasonally adjusted annual rate of 536,000 in December. The U.S. Census Bureau and the Department of Housing and Urban Development reports year-over-year sales were down 0.4 percent. The drop in December was much sharper than expected by economists. […]
The Associated Steel Distributors regional meeting in Detroit on January 19 very appropriately focused on the automotive industry. The meeting was held during the last weekend of the North American International Auto Show in Detroit where a vast array of technological innovation was showcased through virtual reality, simulators and presentation of current models and concept […]
Total light vehicle (LV) auto production in NAFTA in December was at an annual rate, of 15.171 million units, down from 17.921 million in November. In cases where seasonality is more than a weather effect, we like to compare the monthly result with the monthly norm over a number of years. On average since 2004, […]
Housing starts rose 11.3 percent in December to a seasonally adjusted annual rate of 1,226,000 from a November revised rate of 1,102,000. Starts were up 5.7 percent year over year. Single family starts slipped 4 percent from the previous month but apartment type housing of 5 units or more rose 53.9 percent as new project […]
The Environmental Protection Agency announced fuel economy standards for 2025 on Friday, rejecting appeals to roll-back miles per gallon requirements for fleet-wide fuel efficiency. The 2025 target will remain unchanged at an average of 50.8 miles per gallon. “My decision today rests on the technical record created by over eight years of research, hundreds of […]
Below is the latest data release issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through November 2016. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for November 2016 increased 16.8 […]
Another major automaker says it will invest in U.S. facilities and add jobs to the industry. Fiat Chrysler Automobiles US said on Sunday that it will invest $1 billion at plants in Michigan and Ohio to produce new Jeep vehicles in a plan that was originated long before the presidential election. The investment is the […]
The Dodge Momentum Index increased 2.9 percent in December to a reading of 136.7. The index is at an eight year high although more than 25 percent below its peak in 2007. Commercial construction planning drove the increase in December, gaining 5.7 percent and offsetting a 1.7 percent decline in institutional planning. Commercial planning gained […]
US automakers set a new record for annual sales with a total of 17.465 million light vehicles in 2016, a 0.4 percent increase from 2015’s record year, according to WardsAuto. Sales in December reached 1.68 million units as consumers were attracted by manufacturer discounts. Incentives of 10 percent off sticker price were offered in December […]
Each month the Commerce Department issues its Construction Put in Place (CPIP) data, usually on the first working day covering activity two months earlier. November data for CPIP was released on Tuesday, January 3rd. The most notable feature of this update was the apparent response to the $305 billion infrastructure in the bill that Congress […]
Ford Motor Company announced today that it is canceling plans to build a new plant in San Luis Potosi, Mexico and will invest in electrical vehicle production in the U.S. About half of the $1.6 billion that was designated for the Mexican plant will be used instead to expand the Flat Rock Assembly Plant in […]
Sale of new residential homes jumped 5.2 percent in November to a seasonally adjusted annual rate of 592,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The rate is 16.5 percent above the sales rate of 508,000 new homes in November 2015. Median sales price in November was $305,400 […]
Vehicle sales fell slightly to 17.87 million units on a seasonally adjusted annualized basis in November, though this still beat expectations. The strengthening job market is supporting vehicle sales and will continue to do so through next year as an average of 170,000 jobs are estimated to be added per month. On the other side […]
Surplus automotive inventory is causing major auto manufacturers to extend holiday shutdowns into January. General Motors announced yesterday that it will idle five US auto assembly plants in January for periods of one to three weeks in an effort to reduce oversupply of sedans. Ford Motor Company said it will shut operations down at the […]
Existing-home sales surged in the Northeast pushing existing home sales to a seasonally adjusted annual rate of 5.61 million from a downward revised 5.57 million in October. The 0.7 percent increase put November’s sales pace at its highest since February 2007 and 15.4 percent higher than November 2015. Lawrence Yun, NAR chief economist, says it’s […]
The Architecture Billings Index made a small gain in November with a score of 50.6, basically unchanged from October’s reading of 50.8. Any score above 50 indicates an increase in billings for design services. The new projects inquiry index rose to 59.5 from 55.4 in November indicating future growth in construction activity. “Without many details […]
Housing starts retreated in November to a seasonally adjusted annual rate of 1,090,000. The rate is 18.7 percent below the revised October estimate of 1.34 million and 6.9 percent below the November 2015 rate. Sequentially, single family starts fell 4.1 percent and multifamily starts plunged 43.9 percent. On a year over year basis single family […]
General Motors announced it will invest $552 million in key U.S. manufacturing facilities in New York and Ohio. The New York manufacturing facilities Tonawanda Engine, Lockport and Rochester will receive a total of $333.66 million. The Parma Metal Center in Ohio is slated for a $218 million investment. “GM remains committed to investing in its […]
Below is the latest release issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through October 2016. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for October 2016 decreased 1.9 percent […]
The Dodge Momentum Index gained 0.3 percent in November after breaking a five month streak of increases in October. The Dodge Momentum Index, published by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning which have been shown to lead construction spending for nonresidential […]
Each month the Commerce Department issues its Construction Put in Place (CPIP) data, usually on the first working day covering activity two months earlier. October data for CPIP was released on Thursday December 1st. The tables in this report don’t look so good but in fact the single month of October looked a lot better […]
Automotive manufacturers reported strong sales for November with light-vehicle volumes up 3.5 percent year over year. Wards Auto data indicated the seasonally adjusted annual rate reached 17.75 million, in line with their forecast of 17.68 million. Analysts are unsure if 2016 sales will top last year’s record of 17.47 million but it is likely to […]
The U.S. Environmental Protection Agency is calling for the agency to make a final decision on fuel economy standards for the auto industry before the Trump administration takes office. The Corporate Average Fuel Economy (CAFE) and Greenhouse Gas (GHG) emissions standards, issued jointly by the EPA and the U.S. Department of Transportation, are up for […]
Lack of infrastructure projects has led to a decline or stagnation of construction employment in one third of U.S. metro areas in October said the Associated General Contractors of America. The press release from AGC follows: Construction employment declined or was stagnant in one-third of metro areas between October 2015 and October 2016 amid diminishing […]
Sales of new single-family houses fell 1.9 percent in October to a seasonally adjusted annual rate of 563,000 units compared to a downwardly revised SAAR of 574,000 units for September. According to the U.S. Census Bureau and the Department of Housing and Urban Development, the rate was 17.8 percent above the October 2015 estimate of […]
Vehicle sales rose to 18.0 million on a seasonally adjusted annual rate basis in October. This was the best result since November last year. Average monthly sales in the first ten months of 2016 have been 17.4 million units. A pace above the 17 million SAAR rate should continue through next year as the labor […]
Existing home sales grew for the second straight month, gaining 2 percent to a seasonally adjusted annual rate of 5.6 million in October from September’s upwardly revised 5.49 million. The National Association of Realtors reported that on a year over year basis, sales were up 5.9 percent and were at the highest level since February […]
Below is the latest release issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through September 2016. You may read the press release on their website here. Residential Storage Water Heaters U.S shipments of residential gas storage water heaters for September 2016 increased 16.1 percent […]
Housing starts jumped 25.5 percent in October from September to a seasonally adjusted annual rate of 1,323,000. Starts of multifamily structures of 5 units or more leapt 74.5 percent from the previous month for a rate of 445,000 and were up 28.2 percent year over year. Single family housing starts grew 10.7 percent from September […]