Articles
BEA News: Gross Domestic Product, Fourth Quarter and Year 2023 (Third Estimate), GDP by Industry, and Corporate Profits
Real gross domestic product (GDP) increased at an annual rate of 3.4 percent in the fourth quarter of 2023, according to the "third" estimate. In the third quarter, real GDP increased 4.9 percent. Read More
Single-Family Housing Sales Up 5.9% YOY in February
Sales of new single‐family houses in February 2024 were at a seasonally adjusted annual rate of 662,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 0.3% below the revised January rate of 664,000 but is 5.9% above the February 2023 estimate of 625,000. Read More
Total Construction Starts Down 8% in Feb., Led by Commercial Decline
Total construction starts fell 8% in February to a seasonally adjusted annual rate of $1.07 trillion, according to Dodge Construction Network. Nonresidential building starts dropped 16%, while nonbuilding starts lost 3%, and residential starts fell by 2%. Read More
Fed Faces Interest Rate Conundrum
"The Federal Reserve is still aiming to lower interest rates later this year, and for many U.S. households and small businesses those rate cuts can’t come soon enough,” reports the Wall Street Journal. “But for big companies able to tap the corporate bond market, and for investors riding a rising stock market, relief from the Fed doesn’t seem all that necessary. Read More
Builder Confidence in Single-Family Homes Rises to 51 in March
Builder confidence in the market for newly built single-family homes climbed three points to 51 in March, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This is the highest level since July 2023 and marks the fourth consecutive monthly gain for the index. Read More
Construction Backlog Declined to 8.1 Months in February
Associated Builders and Contractors reported that its Construction Backlog Indicator declined to 8.1 months in February, according to an ABC member survey conducted February 20 to March 5. The reading is down 1.1 months from February 2023. Read More
Ceramic Imports Declined 7.9% YOY in January
In the month of January 2024, total U.S. imports of ceramic tile were 13.79 million square meters, according to Grosser Consulting, a 7.9% decline compared to January 2023’s 14.97 million square meters. Read More