Tag Archive for Washington

Slumping construction numbers

…continues to slump

Washington – According to the U.S. Department of Commerce, the U.S. Census Bureau and the Department of Housing and Urban Development, building permits, housing starts and housing completions were all down in December of 2008. The  figures showed major declines from November 2008 as well as sharper declines from the same month in 2007.
Building permits for privately-owned housing units were off by 10.7 percent from November. They were down 50.6 percent from the same month a year ago.
An estimated 892,500 housing units were granted bu7ilkding permits in 2008 compared to 1,398,400 in 2007.
Housing starts were also down 15.5 percent from November and 45 percent from a year ago.
Housing completions declined by 5.2 percent from November and 23.6 percent from 2007.
Overall, an estimated 1,116,600 housing units were completed in 2008 versus 1,502,8u00 in 2007, a decline of 25.7 percent.

Orders for durable goods

…fall in December

Washington, D.C.
– According to the U.S. Census Bureau and the Economics and Statistics Administration, new orders for manufactured durable goods in December 2008 fell 2.6%, to $176.8 billion.  Overall shipments declined 0.7% in December, to $191.3 billion, while capital goods shipments declined 1.1%, to $73.7 billion.  Inventories rose 0.4%, to $343.5 billion.  For the full year 2008, new orders for manufactured durable goods fell 5.7%, overall shipments declined 2.7%, capital goods shipments rose 2.0% and inventories increased 7.0%

New residential sales

…slump in December

Washington, D.C. – The U.S. Department of Housing and Urban Development, joined by the U.S. Census Bureau, released new residential sales figures for December 2008. The news was not good.

Sales of new one-family houses in December 2008 were estimated at 331,000, 14.7 percent below the revised figure of 388,000 for November 2008.

Compared with December of 2007, the news was worse, with a decline of about 45 percent.

The median sales price of new houses sold in December 2008 was $206,500. Average sales price was $246,900.

An estimated 482,000 new homes were sold in 2008, down 37.8 percent from 2007.

GDP continues slide

…in fourth quarter

Washington, D.C. – Real gross domestic product decreased at an annual rate of 3.8 percent in the fourth quarter of 2008. This is based on estimates released by the Bureau of Economic Analysis.

This advance estimate is based upon incomplete data, the BEA reports, and will be revised.

The decrease in real GDP reflected negative contributions from exports, personal consumption, equipment and software, and residential investment. These negatives were offset, in part, by government spending and decreased imports,

Motor vehicle output cut more than 2 percent from GDP.