Combine that with an unemployment rate in construction of over 20% and you have an economic problem that overshadows manufacturing, transportation, and all the rest.
And in an encouraging sign for the rest of the year, applications for building permits, a sign of future construction, rose to an annual rate of 925, 000 in January.
Construction of single-family homes fell by 5.5 percent to an annual rate of 829, 000 units, the lowest level since April 1991, while multifamily construction was up 4.4 percent to an annual rate of 332, 000 units.
Applications for building permits, a gauge of future construction, declined 3.9 percent to an annual rate of 902, 000.
Applications for building permits, considered a good barometer of upcoming construction, declined 3.9 percent to an annual rate of 902, 000.
The current flap over housing construction's run rate of 500, 000 plus is misplaced.
Long Island, however, stands out in two ways: the 5th-lowest vacancy rate in the country, but also a very low rate (98th out of 100) of new construction.
Those in working class jobs in fields such as construction and manufacturing had an unemployment rate of 14.6% after the recession.
FORBES: Want to Recession-Proof Yourself? Join the Creative Class
Starts, which are a forward indicator as they track construction, rose by an annualized rate of 750, 000 in August from a downwardly revised 733, 000 in June.
FORBES: Housing Recovery? Starts And Sales Of Existing Units Hit Two-Year Highs
This index fell by six points in May to 45, its lowest since 1995. (A score below 50 suggests that more builders reckon the market is poor than think it good.) Economists at Goldman Sachs estimate, from the fall in the homebuilders' index, that construction will fall at an annual rate of 10-15% in the next four quarters.
ECONOMIST: America's housing market is losing its effervescence
Real-estate consultancy Soufun forecasts a growth rate of 6%-7% in new property under construction in 2012, a sharp slowdown from 20.5% in the first 11 months of 2011.
WSJ: Heard on the Street: Australia Risks China Hard Landing
Utility construction companies analyzed by Sageworks grew sales at an impressive rate of 18.29% in 2011, she said.
Construction workers have been taught stretching techniques, reducing their rate of injury.
FORBES: Wisconsin Brings Farm Food to the Schools -- and Keeps the Dollars Local
While high fuel prices would logically make smaller and more efficient models in greater demand, and thus demand higher prices, NADA says that used full-size pickups are commanding premium prices these days, with depreciation at about half the rate of the average auto, due in part to the healthier housing and construction sectors.
FORBES: Used Car Prices Stay High -- Here's Where To Find The Best Deals
Future construction permits increased by 4.6 percent to an annual rate of 946, 000, the quickest since June of 2008.
As a result, the consistently high interest rate regime has impacted the growth of companies operating in China, particularly in the construction industry.
FORBES: Caterpillar Feels The Pinch Of High Interest Rates In China
At any rate, construction on something has already begun, much to the celeb-weary dismay of some West Villagers.
The data, which measures the construction of new homes and apartments, is a slightly lower drop than the annual rate of 985, 000 units that economists polled by Thomson Financial had expected.
Therefore, in Q2 2011, while construction and other machinery sales will continue growing along with the global GDP, its rate of growth will likely moderate due to the many global economic challenges.
FORBES: Caterpillar Could Crawl To $116 With Earnings on Friday
The structure of the eurozone, with one interest rate for all, enabled countries like Spain to embark on a construction boom.
Healthcare sales fell at an underlying rate of 1% from a year earlier, while overall lighting sales were flat due to weak demand from the construction sector.
应用推荐