The Data DIGest
GDP drops despite strength in nonres construction; jobs, revenues fall in most states Real (net of inflation) gross domestic product fell at a seasonally adjusted annual rate (SAAR) of 0.3% from the second quarter to the third quarter, the Bureau of Economic Analysis reported on Thursday. Real gross private domestic investment in nonresidential structures rose 7.9% (SAAR), down from 18% in the second quarter but the 12th straight quarter in which this category of GDP has outpaced overall economic growth. Real government gross investment in structures increased 3.7%, down from 9.5%. Real gross private residential investment fell 19%, worse than the 13% decline in the second quarter and the 11th consecutive quarterly drop. Price indexes rose 7.2% (SAAR) for private nonresidential structures and 14% for government structures, but fell 1.2% for private residential investment. |
From: Kenneth Simonson [mailto:Simonsonk@agc.org] Click Here for this IssueOnce again, please keep sending specific examples of price increases. My thanks to the many respondents who have sent examples in the past few weeks; reporters have used them in numerous stories recently (but I do not forward your contact information or other specifics about you without your prior permission). Also, please let me know if you find changes in demand for construction. As always, please let me know your territory, line of business and whether I can share your email with interested reporters or Federal Reserve economists. Ken Simonson Kenneth D. Simonson Chief Economist The Associated General Contractors of America NEW: State fact sheets www.agc.org/factsheets Quality People. Quality Projects.
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From: Kenneth Simonson [mailto:Simonsonk@agc.org] Click Here for this IssueMy thanks to the many respondents who have sent examples of price increases in the past few weeks (though I'm sorry the examples are so abundant!). Please keep 'em coming if you get 'em. Also, please let me know if you find changes in demand for construction. As always, please let me know your territory, line of business and whether I can share your email with interested reporters or Federal Reserve economists. Next issue: Tuesday, May 13 Kenneth D. Simonson, Chief Economist Associated General Contractors of America - Building Your Quality of Life www.agc.org; state fact sheets, www.agc.org/factsheets New: March 2008 Construction Inflation Alert: www.agc.org/CIA |
