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November 2015 Economic News12-07-15 | News
Economic News November 2015


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-26.1%: How much nonresidential construction starts dropped throughout the nation in September, compared to August.
Source: Construction Market Data Group

2.1 points: How much the sales expectations metric of the Contractors Confidence Index (CCI) rose for the first half of 2015. The sales expectations component climbed to 69.4 from 67.3.
Source: Associated Builders and Contractors

6%: How much the consulting firm of FMI expects the construction industry to expand in 2015. The firm had previously forecast a growth rate of 5 percent.
Source: FMI

5.8%: How much the Dodge Momentum Index, a measure of nonresidential building projects that file their first or initial construction plans, jumped in September. The index increased to 133.5, up from 126.2 in August.
Source: Dodge Data and Analytics

$208.36 billion: The level of spending the global market for construction equipment is expected to reach by 2020. A growing number of infrastructure projects all over the world should be the driving force for the market over the next six years.
Source: Grand View Research Inc.

Groundwork
(August-to-September)
Architecture Billing Index (ABI): 53.7, up from 49.1 in August
New projects inquiry index: 61.0, down from 61.8 in August
Source: American Institute of Architects

Architecture Billings Index regional averages:
Midwest: 54.2, down from 56.1
Northeast: 43.7, down from 46.8
South: 54.5, up from 53.8
West: 51.7, up from 50.2
Source: American Institute of Architects

"Aside from uneven demand for design services in the Northeast, all regions are in good shape. Areas of concern are shifting to supply issues for the industry, including volatility in building materials costs, a lack of a deep enough talent pool to keep up with demand, as well as a lack of contractors to execute design work." - Kermit Baker, chief economist for the American Institute of Architects

Construction - Starts
(August-to-September)
Single-family: +0.3%
Multi-family: +17%
Combined total: +6.5%

(Year-to-Year)
Single-family: +12%
Multi-family: +28.6%
Combined total: +17.5%
Source: U.S. Census Bureau

"Since January, single-family starts are up 11 percent, and we anticipate a similar pace for the rest of this year." - David Crowe, chief economist for the National Association of Home Builders (NAHB)

Regional Breakdowns
(August-to-September)
(Single-Family Only)
Midwest: +0.9%
Northeast: +1.8%
South: -6.3%
West: +18.2%

(Multi-Family and Single-Family)
Midwest: -12.2%
Northeast: +23.4%
South: +0.6%
West: +25.4%
Source: U.S. Census Bureau

Construction - Completions
(August-to-September)
Single-family: -1.8
Multi-family: +29%
Combined total: +7.5%

(Year-to-Year)
Single-family: +2.6%
Multi-family: +20.4%
Combined total: +8.4%
Source: U.S. Census Bureau

Regional Breakdowns
(August-to-September)
(Single-Family Only)
Midwest: +11.7%
Northeast: +4.1%
South: -6.9%
West: -1.3%

(Multi-Family and Single-Family)
Midwest: +48%
Northeast: +60.3%
South: -6.9%
West: -5.6%
Source: U.S. Census Bureau

Existing Home Sales
+4.7% from August 2015
+8.8% from September 2014
Source: National Association of Realtors

Regional Breakdown
(August-to-September)
Midwest: +2.3%
Northeast: +8.6%
South: +3.8%
West: +6.7%
Source: National Association of Realtors

New Home Sales
-11.5% from August 2015
+2.0% from September 2014
Source: U.S. Census Bureau

Regional Breakdown
(August-to-September)
Midwest: -8.3%
Northeast: -61.8%
South: -8.7%
West: -6.7%

(Year-to-Year)
Midwest: -8.3%
Northeast: -56.7%
South: +8.3%
West: +8.6%
Source: U.S. Census Bureau

"September (existing) home sales bounced back solidly after slowing in August and are now at their second highest pace since February 2007. While current price growth around 6 percent is still roughly double the pace of wages, affordability has slightly improved since the spring and is helping to keep demand at a strong and sustained pace." - Lawrence Yun, chief economist for the National Association of Realtors








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