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Housing Starts Tumble in September

U.S. housing starts are heading down a treacherous road as are housing completions and building permits. The latest data from the Census Bureau and Department of Housing and Urban Development shows housing starts in September were down 9.4%. However, the seasonally adjusted annual rate is 1.6% above the September 2018 rate. Homebuilding was at a mo...
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September Construction Input Prices Fall

Contractors wrapped up September with reports of falling construction input prices. According to Associated Builders and Contractors (ABC), input prices dropped more than half of a percent last month, decreasing nearly three times as much year-over-year (YOY).ABC Chief Economist Anirban Basu said in the report "a weakening global economy, sturdy U....
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October Tariffs on Chinese Goods Cancelled

Trade talks between China and the U.S. continued, leading to the U.S. calling off the Oct. 15 tariff increases, according to the Associated Press. The tariffs would have increased from 25% to 30% on $250 billion worth of Chinese imports. The cancellation came with compromise and negotiation.In exchange for the tariff cancellation, China has ag...
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Dodge Momentum Index Takes Step Forward

The Dodge Momentum Index took a step forward in September mostly due to the commercial aspect. The Index, published by Dodge Data & Analytics, measures the initial report of nonresidential building during the planning stage, which can lead to spending by a full year. The commercial component improved nearly 9% in September to push the overall i...
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US China Trade Negotiations Continue, US Tariffs Called Into Question

The U.S. and China continue to negotiate amid the trade wars. According to a recent article in Bloomberg, China remains open to reaching a compromise and partial trade deal with the U.S. The main cause for concern stems from weakening any potential damage a trade war will cause on the health of the global economy.Negotiators will meet in Washington...
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Construction Sees ‘Another Perfect Employment Data Release’

As unemployment continues to decline, the construction sector is among the industries to see job growth in September in what Associated Builders and Contractors (ABC) Chief Economist Anirban Basu described as "another perfect employment data release." According to an ABC report on Oct. 4, net new construction jobs increased by 7,000 last month with...
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US Construction Spending Increases Slightly

U.S. construction spending is on the rise; however, it is public construction spending leading the way. According to the Census Bureau, total spending increased 0.1% in August, but the data is 1.9% behind the figure from August 2018. The latest announcement from earlier this week states construction spending during the first eight months of 2019 is...
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Federal and Central Bank Currency May be on the Way

With the advent of FedNow, the U.S. Federal Reserve tossed around the idea of issuing a digital currency Oct. 2, according to a recent article in Reuters. Philadelphia Federal Reserve bank president Patrick Harker said during a community banking conference the implementation of a digital currency "is inevitable," but he does not want the U.S. to be...
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Job Growth, Low Interest Rates Behind Improved Home Sales

The combination of job growth and low interest rates made for a successful month of new home sales in August, increasing nearly 6.5% over the 2018 results. On Sept. 25, the National Association of Home Builders (NAHB) reported more than a 7% increase in new single-family homes last month, up from economists' predictions in July.According to NAHB, a...
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Credit Managers' Index Disappoints in September

NACM's Credit Managers' Index (CMI) faltered a bit in September after a robust showing the previous month. "That gain was short-lived as this month there was a bit of a decline. The data is still pretty firmly in the expansion zone, but not as robustly as was the case earlier," said NACM Economist Chris Kuehl, Ph.D. The combined CMI slipped from 55...
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August Housing Starts Soar Thanks to Multifamily Gains

August housing starts saw the largest gain in 12 years, exceeding experts' predictions in July with a seasonally adjusted annual rate of 1.36 million units. Rising more than 12%, the surge in housing starts was attributed to a signification increase in the multifamily housing sector, where the National Association of Home Builders (NAHB) said start...
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Australia Late Payments Improve

Late payments are improving across Australia, albeit at a minuscule pace. According to illion's Trade Late Payments Report for the June 2019 quarter released earlier this week, late payments improved from 11 days to 10 days year-over-year, "reflecting improved trading conditions and pressure from the government to cut payment times," states a relea...
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Olaoye Tunde Olawale
Olawale
Friday, 20 September 2019 17:49
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Monthly, Yearly Input Prices See Significant Decline

To the delight of U.S. contractors, construction input prices not only dropped month-over-month (MoM) in August, but also year-over-year (YOY). According to Associated Builders and Contractors (ABC), MoM input prices were down more than half of a percent, while YOY input prices fell nearly 1%.MoM and YOY input prices for nonresidential construction...
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Moody's and Fitch Downgrade Hong Kong's Ratings

The protests in Hong Kong continue, and the political unrest in the region has begun to have an impact on the health of its economy. According to a recent article by Reuters, Moody's knocked down Hong Kong's rating from stable to negative. Moody's made this decision as it deemed the risk from the protests has caused "an erosion in the strength of H...
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Challenges Lead to US Auto 'Fair' Outlook

Credit risk assessment in the U.S. automotive sector is stable. According to the latest Market Monitor from credit insurer Atradius, the sector is also facing high risks in financial conditions. The sector has a "fair" outlook due in part to tariffs and lower demand taking their toll on the credit risk outlook, which has worsened. The average payme...
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Amazon and Wayfair May Raise Prices to Offset Chinese Tariffs

The repercussions of the Chinese tariffs on U.S. goods may begin to manifest at Amazon and Wayfair: these companies may no longer be able to absorb the tariff costs, according to research by Bank of America given to Supply Chain Dive. With the 15% tariff that went into place Sept. 8, Amazon may raise its prices by as much as 2.6% and Wayfair by as ...
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Nonresidential Construction Employment ‘Just About Perfect’

Construction job growth expectations weren't achieved in August, but according to Associated Builders and Contractors (ABC) Chief Economist Anirban Basu, overall employment was "just about perfect." After the U.S. Bureau of Labor Statistics data release, ABC released its analysis on Sept. 6, citing a 2.4% increase in construction employment year-ov...
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New Zealand Late Payments Increase

Late payments are an issue around the globe in small, medium and large businesses. According to Australasia data and analytics provider illion, late payments in New Zealand are increasing, yet that was expected due to seasonality. The most recent late payments report for the island nation shows nearly a quarter of businesses were paying invoices la...
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Construction Employment Remains Healthy

Construction unemployment isn't exactly where the industry wants it to be, but it has been worse. On Aug. 28, Associated Builders and Contractors (ABC) reported unemployment rose in 38 states in July 2019 compared to July 2018, based on estimates that were not seasonally adjusted. However, despite the 0.4% increase in unemployment over the past yea...
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Construction Confidence Dips in June, Optimism Moving Forward

Construction contractors lost confidence during the month of June, according to the June 2019 Construction Confidence Index released by Associated Builders and Contractors (ABC). This lack of confidence stems primarily from nonresidential construction.Despite the dip in sales, profits and staffing levels in June, the levels in the survey still rema...
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