Ken Simonson (@kensimonson) 's Twitter Profile
Ken Simonson

@kensimonson

AGC Chief Economist since 2001. 2012-13 President, NABE. Writes The Data DIGest, weekly one-page summary of construction economic news: tinyurl.com/d4qq7hj

ID: 425235420

linkhttp://www.agc.org/cs/industry_topics/construction_economics/chief_economist calendar_today30-11-2011 18:57:27

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Beige Book: Commercial construction was somewhat mixed: steady/up in Clev, Chi, Minn; weak in NY, Phil; slow in Rich, StL but with indus up

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Construction spending: +0.8% in Oct; 3rd straight gain but -0.4% vs. Oct '10. Revisions: Sep +0.6%, Aug +0.5%. Private side getting stronger

Ken Simonson (@kensimonson) 's Twitter Profile Photo

Construction employment in Nov: -12K (-0.2%) vs. Oct, +18K (0.3%) vs. Nov '10; very little change since Feb '10; unem rate 13.1%

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Manpower Inc survey (manpower.com/research/resea…): Construction only industry expecting drop in hiring in Q1 (worse outlook than for Q4)

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Detailed but clear IHS Global Insight report documents bright future for shale gas, adding to demand for construction: tinyurl.com/crasskj

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Nov PPI for const materials: -0.1% vs Oct, 6.2% vs 11/10, outpacing bid prices & squeezing contractors. More info: agc.org

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Multifamily starts, permits soar: Nov starts +25% vs Oct, +145% vs 11/11; Nov permits +13% vs Oct, +71% vs 11/11. More in pipeline

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Only 19 states, DC add construction jobs in Nov, led by RI, NY; year-over-year 25 states, DC gain, led by ND, TX. More: agc.org

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Census surprises: DC tops 2010-11 % growth, TX 2nd; Sunbelt, NW, most Rocky Mtn, Plains states above avg except KS, NV, WY; ME, MI, RI slip

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Beige Book: several regions report construction growth in multifamily, energy, high-tech, hospitals, education; more commercial RE lending

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6/6 Beige Book: "Conditions in residential and commercial real estate improved. Construction picked up in many areas of the country."

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ADP: June construction employment rose by 8,000, more than reversing declines of April & May. But BLS (report tomw.) often differs w/ ADP.

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Construction spending hits 30-mo high; single-, multi-family, nonres gains outpace drop in public construction. Expect all 3 trends to last.

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Construction spending better than #s show. Unreliable est. of res improvements masks strong gain in homebuilding & apts. Priv nonres up yoy