Caterpillar says it plans to close five plants in the U.S. as part of a cost-cutting strategy it began last year. The closures at the mining and construction equipment company will mean layoffs for about 670 employees. In September 2015, Caterpillar said global restructuring actions would cut as many as 18,000 jobs through 2018. “Cost […]
Total housing starts in December were at an annual rate of 1,149,000 which was down from 1,179,000 in November. Since April total monthly starts annualized have ranged from 1,062,000 to 1,211,000 with the high month being June. In December the three month moving average (3MMA) was 1,133,000 which was down from 1,153,000 in November. August […]
In December, vehicle sales in the US eased from the blistering pace of the previous 3 months. Sales fell from 18.2 million in each of the months September, October and November to 17.3 million in December. All numbers quoted here are seasonally adjusted annual rates. For the full year of 2015, sales were 17.3 million […]
Construction employment increased in the U.S. in December and for 2015 amid strong demand according to an analysis by the Associated General Contractors of America. The press release from AGC follows: Forty-four states and the District of Columbia added construction jobs in 2015 while construction employment increased in 39 states and D.C. between November and […]
Housing starts and permit authorizations fell from November to December, according to the U.S. Department of Commerce report, despite unseasonably warm temperatures. The drop surprised economists who expected gains from the mild weather and from the positive report of construction jobs added in December. Housing starts were at a seasonally adjusted annual rate of 1,149,000, […]
Below is the latest release issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through November 2015. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for November 2015 decreased 17.3 percent […]
The Dodge Momentum Index bounced back in December after a 3.6 percent decline the previous month. The Momentum Index, a measure of the initial report for nonresidential building projects in planning, rose 4.1 percent to post 125.2 in December. The increase was spread between commercial and institutional planning which rose by 3.6 percent and 4.7 […]
The Associated General Contractors of America released the results from their 2016 Construction Hiring and Business Outlook Report. Survey responses from more than 1,500 construction firms indicate that the construction industry is optimistic about business opportunities for 2016. A mix of private and public sector market segments are expected to drive demand for construction in […]
Analysts expected U.S. auto sales to approach a seasonally adjusted annual rate of 18 million units for 2015, but slipping December sales brought the total to 17.47 million, an all-time record according to Autodata Corp. Commenting on its tally of December sales, Wards Auto wrote, “It speaks volumes for the kind of year 2015 was […]
Each month the Commerce Department issues its Construction Put in Place (CPIP) data, usually on the first working day covering activity two months earlier. November data was released on Monday January 4th and data for private construction was revised back to January 2005, almost eleven years. Construction Put in Place is based on spending work […]
In November, vehicle sales in the US maintained their very high seasonally adjusted annual rate of 18.2 million units for the third consecutive month. All the growth this year has been in light trucks which includes crossovers. Sales in November were 6.2 percent higher than the same month a year ago. Year to date sales […]
The UAW has ratified a new contract with Nexteer Automotive after rejecting a first tentative agreement just two weeks ago. The ratification averted another possible strike by the membership. UAW Local 699, representing 3,200 workers at Nexteer, reported that 64.2 percent of voting members supported the new contract. Changes from the original agreement include increasing […]
Total housing starts in November were at an annual rate of 1,173,000 which was up from 1,062,000 in October. Since April total monthly starts annualized have ranged from 1,062,000 to 1,211,000 with the high month being June. In November the three month moving average (3MMA) was 1,147,000 which was up from 1,128,000 in October. August […]
Below is the latest release issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through October 2015. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for October 2015 decreased 21.0 percent […]
The Nexteer Automotive strike was called off after just one day. A second tentative agreement was reached on Tuesday night, Dec. 8 and workers at UAW Local 699 were told to resume their scheduled shifts. The first tentative contract was rejected by an overwhelming majority of workers at the company which produces steering and driveline […]
The Dodge Momentum Index dropped 3.7 percent to 119.9 in the November report from Dodge Data and Analytics. The index spiked in July and September but lost construction planning momentum in October and November. The index is now more consistent with the “gentle upward trend in planning activity that began in 2012” says Dodge. Commercial […]
A strike is in effect for 3,200 UAW workers at Nexteer Automotive after 97 percent of the membership voted against a tentative agreement on Sunday. The union and Nexteer exchanged proposals on Monday but could not come to a compromise before the 11:59 p.m. deadline. Nexteer expressed frustration over the decision to strike after negotiating […]
Each month the Commerce Department issues its Construction Put in Place (CPIP) data, usually on the first working day covering activity two months earlier. October data was released on Tuesday December 1st. Construction Put in Place is based on spending work as it occurs, estimated for a given month from a sample of projects. In […]
U.S. auto sales reached 1.32 million vehicles in November, a 1.4 percent increase. The seasonally adjusted annual rate according to WardsAuto, was 18.12 million vehicles, the third consecutive month above a SAAR of 18 million units. WardsAuto estimates that December sales will have to reach 1.7 million units to get a fourth consecutive month at […]
In October, vehicle sales had another small gain from September’s post-recession high of almost 18.2 million units at a seasonally adjusted annual rate. This followed the August rate of 17.8 million units. Both at the time were the best pace since July 2005, when incentives caused sales to surge. Sales in October were 10 percent […]
Existing home sales fell 3.4 percent to a seasonally adjusted annual rate of 5.36 million in October, according to the National Association of Realtors. The decline followed a spurt in sales to a rate of 5.55 million in September. Home sales were up 3.9 percent on a year over year basis and are expected to […]
It used to be that labor unions fought to keep automobile production in the United States. Soon, the biggest “domestic” auto makers will be companies like Honda and Toyota as two of the Big 3 head to Mexico. The UAW labor negotiations concluded Friday with the ratification of agreements with Ford and GM. Part of […]
The UAW announced on Friday the ratification of new four-year agreements with both GM and Ford. The GM contract ratification was on hold after the skilled trade membership voted against the tentative agreement despite an overall majority vote for the agreement. Discussions with GM regarding concerns of the skilled trades membership resulted in changes that […]
Total housing starts in October were at an annual rate of 1,060,000 which was the lowest number since March. In October the three month moving average (3MMA) was 1,122,000 which was down from 1,153,000 in September and from 1,160,000 in August. August had the highest 3MMA since the recession so the sky is not falling. […]
Housing starts fell to a seven month low in October to a seasonally adjusted annual rate of 1.06 million, 11 percent below September’s revised rate of 1.105 million, said the Commerce Department on Wednesday. Economists at Reuters, Bloomberg and Wall Street Journal all anticipated a rate of 1.16 million for the month. Multi-family construction, including […]
Below is the latest release issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through September 2015. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for September 2015 decreased 22.4 percent […]
Although the Dodge Momentum Index has been on a generally upward trend this year, it has been a roller coaster ride. The Index took a large leap of 5.2 percent in September which was nearly reversed by a decline of 4.8 percent in October. Both commercial building and institutional building indexes declined last month by […]
The UAW announced the completion of voting for a new labor contract with General Motors. The overall vote was 55.43 percent in favor and 44.57 percent against. Production workers voted for the contract by a 58.3 percent to 41.7 percent margin. Skilled trades, however, voted against the agreement, with 40.5 percent in favor and 59.5 […]
Each month the Commerce Department issues its Construction Put in Place (CPIP) data, usually on the first working day covering activity two months earlier. September data was released on Monday November 2nd. Construction Put in Place is based on spending work as it occurs, estimated for a given month from a sample of projects. In […]
Gibraltar Industries reported net sales increased 30 percent in third quarter 2015 to $305 million. Adjusted net income was $15.7 million compared with $9.5 million in Q3 2014. “Gibraltar delivered strong financial results in the third quarter, as we continued to execute on the value-creation strategy we introduced late last year,” said Chief Executive Officer […]