Tag: Commerce Department

Business

Why an error in the Commerce Department’s construction spending calculation is actually good news

The Commerce Department has announced a revision to 10 years worth of construction spending estimates, correcting a calculation error that will likely lead to a boost in the GDP. “In the November 2015 press release, monthly and annual estimates… for January 2005 through October 2015 have been revised to correct a processing error in the tabulation of […]

January 5, 2016

Roadbuilding

Highway and street construction spending up slightly in October

U.S. construction spending rose 1.1 percent during the month of October due mainly to increases in homebuilding and government nonresidential projects. According to preliminary estimates from the Commerce Department, October construction spending was at a seasonally adjusted annual rate of $971 billion. The new data also revised the August and September rates upward from the previously estimated $955 […]

December 2, 2014

Roadbuilding

Highway construction spending down for second straight month

U.S. construction spending dropped for the second straight month in September, this time by .4 percent. In August construction spending dropped .5 percent. The September decline pushed construction spending down to $950.9 billion at a seasonally adjusted annual rate. The good news: that’s still 2.9 percent higher than the level a year ago. Highway and […]

November 4, 2014

Roadbuilding

Highway construction spending down in August

U.S. construction spending saw its second dip of the year in August, falling 0.8 percent. Spending was at a seasonally adjusted annual rate of $961 billion in August, according to preliminary estimates in a report from the Commerce Department. In addition to August’s dip, the report revised downward the rates for the previous two months […]

October 4, 2014

Roadbuilding

Nonresidential projects push construction spending to largest monthly gain in more than 2 years in July

After seeing its first drop in one year during June, construction spending in the U.S. fully recovered and then some in July, with its largest monthly gain in more than two years. Construction spending rose 1.8 percent to a seasonally adjusted annual rate of $981.3 billion in July, according to preliminary estimates by the Commerce […]

September 3, 2014

Business

Homebuilding declines but construction spending up 0.1% in February

Construction spending in the U.S. ticked up 0.1 percent in February despite a decline in homebuilding, according to preliminary data from the Commerce Department. Total spending rose in February to a seasonally adjusted annual rate of $945.7 billion from the revised January figure of $944.6 billion. Due to the revision of that figure, what was a […]

April 1, 2014

Business

U.S. construction spending up 1% in November to nearly 5-year high

Construction spending in the U.S. rose 1 percent in November of last year to reach a nearly 5-year high. Spending reached a seasonally adjusted annual rate of $934.4 billion in November, according to preliminary data released by the Commerce Department. That’s the highest rate since May 2009 and 5.9 percent better than November 2012. October’s […]

January 2, 2014

Business

Housing starts soar 22.7% in November to nearly 6-year high

Greatly defying expectations, U.S. housing starts soared in November to heights rarely seen since the housing collapse in 2006. Housing starts jumped 22.7 percent in November to a seasonally adjusted annual rate of 1.091 million, according to data from the Commerce Department. That’s the highest monthly gain since January 1990 and only the second time […]

December 18, 2013

Business

Construction spending up 0.8% in October to nearly 4 1/2-year high

Construction spending in the U.S. rose 0.8 percent in October to a nearly 4 1/2-year high. Construction spending reached a seasonally adjusted annual rate of $908.4 billion, the highest pace since May 2009, according to preliminary data released by the Commerce Department Monday. October’s total was 5.3 percent better than October 2012. The release of […]

December 2, 2013

Business

Building permits up in October, but government delays housing starts data for second month due to shutdown

Though the Commerce Department won’t release data on housing starts and completions until next month, it reports that building permits saw a sizable gain in October. Placing blame on the 16-day partial shutdown of the federal government during October, the Commerce Department says it won’t have the data for home starts and completions for the […]

November 26, 2013

Business

Construction spending up 0.6% August to 4-1/2-year high

Construction spending in the U.S. rose by 0.6 percent in August to its highest point since April 2009, according to preliminary data from the Commerce Department. According to the data, total construction spending rose to $915 billion in August. The total marks a 7.1-percent improvement over the same time last year. The boost comes thanks […]

October 22, 2013

Business

No housing, construction jobs or spending reports until government shutdown is over

Though we had a ton of news coming in to the site last week thanks to the big ICUEE 2013 show in Louisville, one story we didn’t have was the latest on job numbers in the construction industry. That’s because the government provides those numbers and, as we’re sure you’re aware, the government is shut […]

October 7, 2013