McGraw-Hill Construction’s recent report on data for the “dollar value of construction starts” in August showed an 8% gain (over July).
That month-to-month fluctuation is distracting and includes seasonal adjustments. To get by that, let’s look at the UNadjusted year-to-date (start values through 8 months of 2012) data:
EleBlog notes:
(a) Earlier in the year, this was at a +4% (total construction). The comparisons with 2011 have declined just a bit.
(b) 2011 sucked. +3% compared to 2011 sucks. This just is NOT good, even if it offers a “+” sign.
(c) if the U.S. and global economies are headed for a fall — and the recent (around Sept. 13) separate Last-Ditch moves by the U.S. Fed and the European Central Bank should tell you that — the residential uptick won’t hold up.
Source: http://electricalcontractor.com/?p=6256
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