{"id":1004110376,"date":"2015-01-05T06:56:57","date_gmt":"2015-01-05T14:56:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004110376"},"modified":"2022-12-08T20:00:50","modified_gmt":"2022-12-09T04:00:50","slug":"economy-watch-construction-spending-manufacturing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-construction-spending-manufacturing\/","title":{"rendered":"Economy Watch: Construction Spending, Non-Residential Building, Manufacturing, Industrial, Retail Sectors"},"content":{"rendered":"

By Dees Stribling, Contributing Editor<\/em><\/p>\n

The Census Bureau reported on Friday that U.S. construction spending came in at an annualized rate of $975 billion during November, a drop of 0.3 percent compared with October. Private spending increased 0.3 percent for the month, but public spending more than offset that gain by falling 1.7 percent.<\/p>\n

Residential construction was at an annualized rate of $352.7 billion in November, 0.9 percent above October\u2019s $349.6 billion. On the other hand, nonresidential construction posted an annualized rate of $345 billion in November, or 0.3 percent below October\u2019s $346.1 billion.<\/p>\n

Overall construction spending was up 2.4 percent in November compared with the same month a year ago, with private spending increasing 2 percent and public spending up 3.2 percent. Residential construction dipped 0.6 percent year over year, while nonresidential construction gained 4.2 percent for the year.<\/p>\n

Manufacturing Still Growing<\/strong><\/p>\n

According to the latest Manufacturing ISM Report On Business, which was released on Friday, the December Purchasing Managers Index came in at 55.5 percent, a decrease of 3.2 percentage points from November. Though down for the month \u2013 like most of the other indexes in the report — that still indicates growth for the manufacturing sector, for the 19th consecutive month.<\/p>\n

The organization\u2019s New Orders Index was 57.3 percent, a decrease of 8.7 percentage points from November, while the Employment Index registered 56.8 percent, an increase of 1.9 percentage points above November. The Prices Index registered 38.5 percent, down 6 percentage points from the November, indicating lower raw materials prices in December relative to November.<\/p>\n

\u201cComments from the panel are mixed, with some indicating that falling oil prices have an upside while others indicate a downside,\u201d noted Bradley Holcomb, chair of the Institute for Supply Management Manufacturing Business Survey Committee, in a statement. \u201cOther comments mention the negative impact on imported materials shipment due to the West Coast dock slowdown.”<\/p>\n

Wall Street sputtered to a mixed conclusion on its first trading day of 2015 on Friday, with the Dow Jones Industrial Average up 9.92 points, or 0.06 percent. The S&P 500 lost 0.03 percent and the Nasdaq was down 0.2 percent.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Construction spending dropped in November, though nonresidential building was up for the year. 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