The Dodge Momentum Index, a monthly measure of initial reports for nonresidential building projects in planning, rose 4.0 percent from a revised 123.8 in November to 128.7 in December. The reading is the highest since February 2009 and an increase of 17 percent year over year. “The increases seen in the Index in 2014 are […]
According to Baker Hughes data from January 9th, 2015, the U.S rig count for this week is 1,750 rigs exploring for or developing oil or natural gas. This count is a decrease of 61 rigs when compared to last week, with oil rigs down 61 to 1,421 rigs, gas rigs up 1 to 329 rigs, […]
US automotive sales were positive across the board in December. Total sales for 2014 showed a vigorous auto industry aided by low gas prices, a recovering economy and higher employment. Total sales were reported to be 16,522,000 light vehicles. In the Big Three Detroit manufacturers, General Motors was up 19.3 percent in December and Fiat […]
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 was released on January 2nd. Construction put in place is based on spending work as it occurs, estimated for a given month from a sample of projects. In effect […]
According to Baker Hughes data from December 29th, 2014, the U.S rig count for this week is 1,840 rigs exploring for or developing oil or natural gas. This count is a decrease of 35 rigs when compared to last week, with oil rigs down 37 to 1,499 rigs, gas rigs up 2 to 340 rigs, […]
US new home sales slipped slightly in November to a seasonally adjusted annual rate of 438,000 from the 445,000 annual rates seen the previous month and in November 2013. Sales were 1.6 percent below both time periods. Sales missed the economist forecast of a 460,000 unit pace in November. New home sales, which account for […]
November was a strong month for light vehicle sales rising to 17.2 million units, (annualized) from 16.5 million in October. This was the best result since August. So far in 2014 sales are averaging 16.45 million units, the best rate since 2006. Light trucks increased faster than automobiles in November presumably boosted by low gas […]
Starts in November declined to an annual rate 1,028,000, the same as the number for September but down from 1,045,000 in October. The three month moving average, (3MMA) rose to 1,034,000, (Figure 1). This was the third consecutive month that the 3MMA of starts exceeded a million units. The year over year growth rate of […]
Below is the latest data issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through October 2014. 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 2014 increased 5.2 percent, […]
According to Baker Hughes data from December 12th, 2014, the U.S rig count for this week is 1,893 rigs exploring for or developing oil or natural gas. This count is a decrease of 27 rigs when compared to last week, with oil rigs down 29 to 1,546 rigs, gas rigs up 2 to 346 rigs, […]
According to Baker Hughes data from December 5th, 2014, the U.S rig count for this week is 1,920 rigs exploring for or developing oil or natural gas. This count is an increase of 3 rigs when compared to last week, with oil rigs up 3 to 1,575 rigs, gas rigs unchanged at 344 rigs, and […]
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 was released on December 2nd. Construction put in place is based on spending work as it occurs, estimated for a given month from a sample of projects. In effect […]
With crude oil prices breaking through $80 per barrel, all eyes are on the Baker Hughes rig count data. The question is will the lower oil prices affect the number of wells being drilled? Most assume there will be an impact, however, it could have a lag effect and take time before there is a […]
With crude oil prices breaking through $80 per barrel, all eyes are on the Baker Hughes rig count data. The question is will the lower oil prices affect the number of wells being drilled? Most assume there will be an impact, however, it could have a lag effect and take time before there is a […]
Total light vehicle sales were little changed in October at 16.5 million units, up from 16.4 million in September, both on a seasonally adjusted annualized basis. The spread between light trucks and autos, which in September was one million units in favor of light trucks, decreased to 0.5 million. On a y/y basis total light […]
Starts in October fell to an annual rate of 1,009,000 units from 1,038,000 in September. The three month moving average (3MMA) decreased from 1,033,000 units to 1003,000, (Figure 1). This was the second time since January that the 3MMA had exceeded a million units. The year over year growth rate of the 3MMA of total […]
Below is the latest data issued by the The Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through August 2014. 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 2014 increased 9.5 percent, […]
With crude oil prices breaking through $80 per barrel, all eyes are on the Baker Hughes rig count data. The question is will the lower oil prices affect the number of wells being drilled? Most assume there will be an impact however, it could have a lag effect and take time before there is a […]
The Dodge Momentum Index, an indicator of nonresidential construction intentions, rose 7.6 percent in October. The following is the press release from Dodge Data & Analytics. NEW YORK – NEW YORK – The Dodge Momentum Index rose in October, climbing to 125.5 (2000=100) for the month, up 7.6% from September’s reading of 116.6 according to […]
Vicwest Inc., a leading manufacturer and distributor of engineered storage and handling systems, will be sold to Kingspan Group and Ag Growth International Inc. (AGI). The company is valued at Canadian $350 million (US$ 308.6 million). Irish insulation and materials manufacturer Kingspan will purchase all the outstanding shares of Vicwest and will retain the Vicwest […]
With crude oil prices breaking through $80 per barrel, all eyes are on the Baker Hughes rig count data. The question is will the lower oil prices affect the number of wells being drilled be affected? Most assume there will be an impact however, it could have a lag effect and take time before there […]
Each month the Commerce Department issues its construction put in place (CPIP) data on the first working day covering activity two months earlier. September data was released on November 3rd. Construction put in place is based on spending work as it occurs, estimated for a given month from a sample of projects. In effect the […]
October U.S. auto sales reached an annualized rate of 16.35 million according to WardsAuto with actual sales totaling 1,273,138 units. October deliveries were up 6 percent on a seasonally adjusted annual rate compared to October 2013. “October was another strong month for the automotive sector, driven by a combination of low fuel prices, available credit […]
According to Baker Hughes data from October 31st 2014, the U.S rig count for this week is 1,929 rigs exploring for or developing oil or natural gas. This count represents an increase of 2 rigs compared to last week, with oil rigs down 13 to 1,582 rigs, gas rigs up 14 to 346 rigs, and […]
Sales of new residential homes had little momentum in September. Home sales reached a seasonally adjusted annual rate of 467,000, just 0.2 percent higher than the previous month after August figures were adjusted downward. Last month’s sales figures were revised from an annual pace of 504,000 to 466,000—turning an 18 percent increase in August to […]
According to Baker Hughes data from October 24th 2014, the U.S rig count for this week is 1,927 rigs exploring for or developing oil or natural gas. This count represents an increase of 9 rigs compared to last week, with oil rigs up 5 to 1,595 rigs, gas rigs up 4 to 332 rigs, and […]
The shortage of construction workers is becoming a severe problem according to new survey data released by the Associated General Contractors of America (AGC). Labor shortages were first identified by AGC in 2013 but have worsened over the past year. In a survey of 1000 AGC members, the Association found that 83 percent of firms […]
The steel market seems fragile right now said members on this morning’s monthly steel conference call hosted by the Heating, Air conditioning, Refrigeration Distributors International (HARDI). Pricing is beginning to slip as demand remains steady was the consensus of most callers. A HVAC wholesaler noted the mills are “negotiating more readily than they were at […]
Existing home sales bounced back in September, reaching their highest pace annual pace for the year, according to data from the National Association of Realtors. Existing home sales increased 2.4 percent to a seasonally adjusted annual rate of 5.17 million homes. Single family home sales rose 2 percent to a SAAR of 4.56 million in […]
Housing starts in September increased to an annual rate of 1,017,000 units from 957,000 in August. The three month moving average (3MMA) increased from 988,000 to 1,024,000 units, (Figure 1). This was the first time since January that the 3MMA had exceeded a million units. The year over year growth rate of the 3MMA of […]