| Author |
Message |
peeps
Guest
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 Posted:
Tue Feb 01, 2005 9:12 pm Post subject:
CONSTRUCTION HAS BEST YEAR SINCE 96 |
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http://story.news.yahoo.com/news?tmpl=story&u=/ap/20050201/ap_on_bi_go_ec_fi
/construction_spending
Construction Has Best Year Since 1996
42 minutes ago
By MARTIN CRUTSINGER, AP Economics Writer
WASHINGTON - Construction spending shot up 1.1 percent in December, capping
a year in which building activity posted the best performance since 1996.
The Commerce Department (news - web sites) said Tuesday that last month's
increase, the best showing in eight months, followed a 0.3 percent advance
in November and reflected widespread strength in both private and public
building projects.
For the year, building activity rose 9 percent to $998.4 billion. It was the
strongest increase since a 10.4 percent jump in 1996.
The strength last year came in housing activity as builders continued their
mad dash to erect houses to meet soaring demand propelled by the lowest
mortgage rates in more than four decades.
Total private residential activity rose by 14 percent to $542.7 billion last
year, a 14 percent gain which was the biggest increase in a decade. It
marked the second double-digit annual gain. Private residential building had
been up 12.9 percent in 2003 after an 8.6 percent increase in 2002.
Total private construction, a category that includes office buildings,
hotels and other commercial enterprises, posted a 10.9 percent increase for
the year - to a total of $764.9 billion. That was the biggest increase since
a gain of 11.4 percent in 1996. Private construction had risen 5.9 percent
in 2003 after having actually declined by 0.1 percent in 2002.
Public building projects were up as well, rising by a smaller 3.4 percent to
$233.5 billion for the year. That followed a 2.8 percent increase in 2003
and was the best showing since a 6.7 percent jump in 2002.
Sales of both new homes and previously owned homes climbed to all-time highs
in 2004, the fourth straight year both categories have set records.
However, analysts are forecasting declines of around 3 percent in housing
sales for this year, reflecting their expectations that mortgage rates, now
at 5.66 percent, will be rising gradually this year and will be around 6.5
percent by December.
Interest rates are being pushed up by a credit-tightening campaign by the
Federal Reserve (news - web sites) which is expected to boost a key rate it
controls by another quarter point on Wednesday. Fed policy-makers continue
to try to cool economic activity slightly to keep inflation from becoming a
problem.
For December, the 1.1 percent advance reflected a 0.9 percent increase in
private construction, which included a 0.7 percent rise in residential
activity, and a 1.8 percent increase in public building projects.
Construction activity for December came in at a seasonally adjusted annual
rate of $1.031 trillion. |
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Sam
Guest
|
| Posted:
Tue Feb 01, 2005 10:31 pm Post subject:
Re: CONSTRUCTION HAS BEST YEAR SINCE 96 |
|
|
yawn
peeps wrote:
| Quote: | http://story.news.yahoo.com/news?tmpl=story&u=/ap/20050201/ap_on_bi_go_ec_fi
/construction_spending
Construction Has Best Year Since 1996
42 minutes ago
By MARTIN CRUTSINGER, AP Economics Writer
WASHINGTON - Construction spending shot up 1.1 percent in December, capping
a year in which building activity posted the best performance since 1996.
The Commerce Department (news - web sites) said Tuesday that last month's
increase, the best showing in eight months, followed a 0.3 percent advance
in November and reflected widespread strength in both private and public
building projects.
For the year, building activity rose 9 percent to $998.4 billion. It was the
strongest increase since a 10.4 percent jump in 1996.
The strength last year came in housing activity as builders continued their
mad dash to erect houses to meet soaring demand propelled by the lowest
mortgage rates in more than four decades.
Total private residential activity rose by 14 percent to $542.7 billion last
year, a 14 percent gain which was the biggest increase in a decade. It
marked the second double-digit annual gain. Private residential building had
been up 12.9 percent in 2003 after an 8.6 percent increase in 2002.
Total private construction, a category that includes office buildings,
hotels and other commercial enterprises, posted a 10.9 percent increase for
the year - to a total of $764.9 billion. That was the biggest increase since
a gain of 11.4 percent in 1996. Private construction had risen 5.9 percent
in 2003 after having actually declined by 0.1 percent in 2002.
Public building projects were up as well, rising by a smaller 3.4 percent to
$233.5 billion for the year. That followed a 2.8 percent increase in 2003
and was the best showing since a 6.7 percent jump in 2002.
Sales of both new homes and previously owned homes climbed to all-time highs
in 2004, the fourth straight year both categories have set records.
However, analysts are forecasting declines of around 3 percent in housing
sales for this year, reflecting their expectations that mortgage rates, now
at 5.66 percent, will be rising gradually this year and will be around 6.5
percent by December.
Interest rates are being pushed up by a credit-tightening campaign by the
Federal Reserve (news - web sites) which is expected to boost a key rate it
controls by another quarter point on Wednesday. Fed policy-makers continue
to try to cool economic activity slightly to keep inflation from becoming a
problem.
For December, the 1.1 percent advance reflected a 0.9 percent increase in
private construction, which included a 0.7 percent rise in residential
activity, and a 1.8 percent increase in public building projects.
Construction activity for December came in at a seasonally adjusted annual
rate of $1.031 trillion.
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peeps
Guest
|
| Posted:
Tue Feb 01, 2005 10:40 pm Post subject:
Re: CONSTRUCTION HAS BEST YEAR SINCE 96 |
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|
thats why youre failing sammy, youre sleeping through the good times.
Gotta get em while they hot, bud.
"Sam" <sam@samsneed.net> wrote in message
news:10vvf6i8ovhkv46@corp.supernews.com...
| Quote: | yawn
peeps wrote:
http://story.news.yahoo.com/news?tmpl=story&u=/ap/20050201/ap_on_bi_go_ec_fi
/construction_spending
Construction Has Best Year Since 1996
42 minutes ago
By MARTIN CRUTSINGER, AP Economics Writer
WASHINGTON - Construction spending shot up 1.1 percent in December,
capping
a year in which building activity posted the best performance since
1996.
The Commerce Department (news - web sites) said Tuesday that last
month's
increase, the best showing in eight months, followed a 0.3 percent
advance
in November and reflected widespread strength in both private and public
building projects.
For the year, building activity rose 9 percent to $998.4 billion. It was
the
strongest increase since a 10.4 percent jump in 1996.
The strength last year came in housing activity as builders continued
their
mad dash to erect houses to meet soaring demand propelled by the lowest
mortgage rates in more than four decades.
Total private residential activity rose by 14 percent to $542.7 billion
last
year, a 14 percent gain which was the biggest increase in a decade. It
marked the second double-digit annual gain. Private residential building
had
been up 12.9 percent in 2003 after an 8.6 percent increase in 2002.
Total private construction, a category that includes office buildings,
hotels and other commercial enterprises, posted a 10.9 percent increase
for
the year - to a total of $764.9 billion. That was the biggest increase
since
a gain of 11.4 percent in 1996. Private construction had risen 5.9
percent
in 2003 after having actually declined by 0.1 percent in 2002.
Public building projects were up as well, rising by a smaller 3.4
percent to
$233.5 billion for the year. That followed a 2.8 percent increase in
2003
and was the best showing since a 6.7 percent jump in 2002.
Sales of both new homes and previously owned homes climbed to all-time
highs
in 2004, the fourth straight year both categories have set records.
However, analysts are forecasting declines of around 3 percent in
housing
sales for this year, reflecting their expectations that mortgage rates,
now
at 5.66 percent, will be rising gradually this year and will be around
6.5
percent by December.
Interest rates are being pushed up by a credit-tightening campaign by
the
Federal Reserve (news - web sites) which is expected to boost a key rate
it
controls by another quarter point on Wednesday. Fed policy-makers
continue
to try to cool economic activity slightly to keep inflation from
becoming a
problem.
For December, the 1.1 percent advance reflected a 0.9 percent increase
in
private construction, which included a 0.7 percent rise in residential
activity, and a 1.8 percent increase in public building projects.
Construction activity for December came in at a seasonally adjusted
annual
rate of $1.031 trillion.
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Sam
Guest
|
| Posted:
Tue Feb 01, 2005 11:23 pm Post subject:
Re: CONSTRUCTION HAS BEST YEAR SINCE 96 |
|
|
failure is seen only in judgment, opportunity is never lost,
it can only be observed by questioning ones eyes
peeps wrote:
| Quote: | thats why youre failing sammy, youre sleeping through the good times.
Gotta get em while they hot, bud.
"Sam" <sam@samsneed.net> wrote in message
news:10vvf6i8ovhkv46@corp.supernews.com...
yawn
peeps wrote:
http://story.news.yahoo.com/news?tmpl=story&u=/ap/20050201/ap_on_bi_go_ec_fi
/construction_spending
Construction Has Best Year Since 1996
42 minutes ago
By MARTIN CRUTSINGER, AP Economics Writer
WASHINGTON - Construction spending shot up 1.1 percent in December,
capping
a year in which building activity posted the best performance since
1996.
The Commerce Department (news - web sites) said Tuesday that last
month's
increase, the best showing in eight months, followed a 0.3 percent
advance
in November and reflected widespread strength in both private and public
building projects.
For the year, building activity rose 9 percent to $998.4 billion. It was
the
strongest increase since a 10.4 percent jump in 1996.
The strength last year came in housing activity as builders continued
their
mad dash to erect houses to meet soaring demand propelled by the lowest
mortgage rates in more than four decades.
Total private residential activity rose by 14 percent to $542.7 billion
last
year, a 14 percent gain which was the biggest increase in a decade. It
marked the second double-digit annual gain. Private residential building
had
been up 12.9 percent in 2003 after an 8.6 percent increase in 2002.
Total private construction, a category that includes office buildings,
hotels and other commercial enterprises, posted a 10.9 percent increase
for
the year - to a total of $764.9 billion. That was the biggest increase
since
a gain of 11.4 percent in 1996. Private construction had risen 5.9
percent
in 2003 after having actually declined by 0.1 percent in 2002.
Public building projects were up as well, rising by a smaller 3.4
percent to
$233.5 billion for the year. That followed a 2.8 percent increase in
2003
and was the best showing since a 6.7 percent jump in 2002.
Sales of both new homes and previously owned homes climbed to all-time
highs
in 2004, the fourth straight year both categories have set records.
However, analysts are forecasting declines of around 3 percent in
housing
sales for this year, reflecting their expectations that mortgage rates,
now
at 5.66 percent, will be rising gradually this year and will be around
6.5
percent by December.
Interest rates are being pushed up by a credit-tightening campaign by
the
Federal Reserve (news - web sites) which is expected to boost a key rate
it
controls by another quarter point on Wednesday. Fed policy-makers
continue
to try to cool economic activity slightly to keep inflation from
becoming a
problem.
For December, the 1.1 percent advance reflected a 0.9 percent increase
in
private construction, which included a 0.7 percent rise in residential
activity, and a 1.8 percent increase in public building projects.
Construction activity for December came in at a seasonally adjusted
annual
rate of $1.031 trillion.
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