Existing home sales rose 2.4 percent in July to a seasonally adjusted annual rate of 5.15 million units, the highest pace in 2014. However, sales still lag behind last year’s peak level in July 2013 of 5.38 million units. Stronger job growth and improving inventory conditions is behind slowly growing sales momentum, said Lawrence Yun, […]
Housing starts accelerated in July to a seasonally adjusted annual rate of 1,093,000, up 15.7 percent from the previous month and 21.7 percent above the July 2013 SAAR, according to reports by the Commerce Department. Single family housing starts were up 8.3 percent from June while starts of multi-family housing of 5 units or more […]
The Energy Information Administration (EIA) has just released data on global oil production for 2013. The global total was just over 90 million barrels per day (bpd). The Middle East and North America produced 27,170,000 and 19,285,999 bpd, respectively. The United States was the world’s top oil producer at 12,302,000 bpd followed by Saudi Arabia […]
According to Baker Hughes data from August 15th, 2014, the U.S rig count for this week is 1,913 rigs exploring for or developing oil or natural gas. This count is an increase of 5 rigs when compared to last week, with oil rigs up 1 to 1,589 rigs, gas rigs up 5 to 321 rigs, […]
Below is the latest press release issued by the The Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on residential and commercial heating and cooling equipment shipments through June 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 June 2014 increased 6.0 […]
According to Baker Hughes data from August 8th, 2014, the U.S rig count for this week is 1,908 rigs exploring for or developing oil or natural gas. This count is an increase of 19 rigs when compared to last week, with oil rigs up 15 to 1,588 rigs, gas rigs up 3 to 316 rigs, […]
Building permits in Canada rose in value by 13.5 percent in June to $8.0 billion according to the latest data from Statistics Canada. The jump in value surprised market analysts who were expecting a 2.0 percent decline from May. Quebec non-residential construction intentions led the increase, rising 32.5 percent to $3.8 billion. Residential permits increased […]
Each month the Commerce Department issues its Construction Put in Place (CPIP) data on the first working day covering activity two months earlier. June data was released on August 1st. 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 […]
US automotive sales were hot in July with double digit increases for many automakers. WardsAuto estimates 1.43 million vehicles were delivered in July, a 9.1 percent over July 2013. The seasonally adjusted annual rate of 16.4 million came in lower than the consensus range forecast of 16.6 million to 17.2 million. Summer sales incentive helped […]
Armada Corporate Intelligence reported there may be some challenges to automotive sales looming on the horizon. The rate of disposal of older vehicles is not keeping pace with new car sales. But, that is just one of the issues the automotive companies may face. The following article came from the Friday, August 1, 2014 issue […]
According to Baker Hughes data from August 1st, 2014, the U.S rig count for this week is 1,889 rigs exploring for or developing oil or natural gas. This count is an increase of 6 rigs when compared to last week, with oil rigs up 11 to 1,573 rigs, gas rigs down 5 to 313 rigs, […]
We have reported previously that the domestic steel industry has been preparing for possible dumping suits on flat rolled products. The countries named most often are all located in Asia with China, India, Taiwan and South Korea as being those countries named most often and likely to be affected by any new dumping suits. A […]
New home sales were disappointing in June, dropping 8.1 percent below the revised rate May rate of 442,000 to a seasonally adjusted annual rate of 406,000, according to estimates by the US Census Bureau and Department of Housing and Urban Development. The drop is “a return to trend rather than a change of direction,” says […]
According to Baker Hughes data from July 25th, 2014, the U.S rig count for this week is 1,883 rigs exploring for or developing oil or natural gas. This count is an increase of 12 rigs when compared to last week, with oil rigs up 8 to 1,562 rigs, gas rigs up 3 to 318 rigs, […]
Caterpillar said it was pleased with its second quarter results, particularly the improvement in profit despite weaker results in its mining segment. Profit after taxes was $146 million compared to $111 million in Q2 2013, an increase of 32 percent. Year over year revenue increased 5 percent to $728 million. “Construction Industries had a good […]
Existing home sales rose 2.6 percent to a seasonally adjusted rate of 5.04 million in June according to a report by the National Association of Home Realtors. Sales were at the highest rate since October 2013 but 2.3 percent below the rate in June 2013. “Inventories are at their highest level in over a year […]
U.S. light vehicle sales beat expectations again in June by surging to 17.0 million units at a seasonally adjusted annual rate, (SAAR). This was the best performance since mid-2006. All of the improvement was in auto sales which increased from 8.1 to 8.3 million SAAR. Light truck sales were flat at 8.7 million. Pent-up demand, […]
According to Baker Hughes data from July 18th, 2014, the U.S rig count for this week is 1,871 rigs exploring for or developing oil or natural gas. This count is a decrease of 4 rigs when compared to last week, with oil rigs down 9 to 1,554 rigs, gas rigs up 4 to 315 rigs, […]
The old Bethlehem Steel site in Lackawanna, NY, is getting repurposed to produce green energy. The site, considered a “brownfield” due to its former use for industrial purposes and its contaminated ground, will become one of the largest solar farms in New York State. The “Steel Sun” project will add 13,000 solar panels to the […]
Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for May 2014 decreased 2.4 percent, to 358,326 units, down from 367,055 units shipped in May 2013. Residential electric storage water heater shipments increased 0.3 percent in May 2014, to 346,116 units, up from 345,077 units shipped in May 2013. For the year-to-date, […]
According to Baker Hughes data from July 11th, 2014, the U.S rig count for this week is 1,875 rigs exploring for or developing oil or natural gas. This count is an increase of 1 rig when compared to last week, with oil rigs up 1 to 1,563 rigs, gas rigs unchanged at 311 rigs, and […]
According to Baker Hughes data from July 3rd, 2014, the U.S rig count for this week is 1,874 rigs exploring for or developing oil or natural gas. This count is an increase of 1 rig when compared to last week, with oil rigs up 4 to 1,562 rigs, gas rigs down 3 to 311 rigs, […]
U.S. light vehicle sales increased in May to nearly 16.8 million units at a seasonally adjusted annual rate, (SAAR) up from an average of 15.8 million units in the first five months of 2014 and the strongest rate since February 2007. Light vehicles are autos and light trucks (GVW Classes 1-3, under 14,001 lbs.). Automotive […]
The following article is a Premium Level article written by Peter Wright: Each month the Commerce Department issues its construction put in place (CPIP) data on the first working day covering activity two months earlier. May data was released on July 1st and all historical data was revised back to January 2008. This long term […]
According to Baker Hughes data from June 27th, 2014, the U.S rig count for this week is 1,873 rigs exploring for or developing oil or natural gas. This count is an increase of 15 rigs when compared to last week, with oil rigs up 13 to 1,558 rigs, gas rigs up 3 to 314 rigs, […]
Sales of new single-family home sales rose to a seasonally adjusted annual rate of 504,000 in May, the highest level since May 2008, according to Census Bureau data. Sales were well above analyst estimates of 415,000 to 462,000, surging 18.6 percent above the revised April rate of 425,000 and 16.9 percent above the May 2013 […]
U.S. light vehicle sales increased in May to nearly 16.8 million units at a seasonally adjusted annual rate, (SAAR) up from an average of 15.8 million units in the first five months of 2014 and the strongest rate since February 2007. Light vehicles are autos and light trucks (GVW Classes 1-3, under 14,001 lbs.). Automotive […]
Figure 1 shows historical gas and oil prices since January 2000. West Texas Intermediate closed at $107.08 and Brent at $115.19 on June 19th. In 10 days prior to the 19th WTI increased by $1.99 and Brent by $4.64 as the ISIS situation in Iraq increased market uncertainty. Oil and gas prices have both been […]
Total housing starts declined from 1,071,000 in April to 1,001,000 in May but the three month moving average (3MMA) increased from 983,000 in April to 1,007,000 in May. It looks as though April was a bounce back from the severe winter delays and that May reverted to trend. Figure 1 shows total housing starts from […]
Below is a release published by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on residential and commercial shipments of water heaters, warm air furnaces, central air conditioners, and air-source heat pumps during the month of April. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for April 2014 decreased 1.9 percent, […]