Market Data Shows Mixed Signs.Rental RENTAL. A roll or list of the rents of an estate containing the description of the lands let, the names of the tenants, and other particulars connected with such estate. This is the same as rent roll, from which it is said to be corrupted. housing market data released recently shows mixed signs. Rent increases were stronger in July July: see month. , but new apartment construction dropped and apartment vacancy VACANCY. A place which is empty. The term is principally applied to cases where an office is not filled. 2. By the constitution of the United States, the president has the power to fill up vacancies that may happen during the recess of the senate. rates rose. Most of the new economic and labor market labor market A place where labor is exchanged for wages; an LM is defined by geography, education and technical expertise, occupation, licensure or certification requirements, and job experience data suggest a slowing in the rate of growth in the economy. Rental Housing Market * The trend in rent increases is now back to about the same level recorded for last year. They rose at a 5.1 percent annual rate in July. This is the second straight month of a strong increase, and it comes after a sluggish performance earlier this year. Rents in July were up 3.1 percent from the year earlier level. * New apartment construction moderated for the third straight month in July. Apartment starts occurred at a 279,000 unit annual rate in July--the lowest level since October October: see month. of last year. This may be more of an adjustment to the relatively high level of good winter weather new starts early this year. Starts of apartments during the first seven months of this year are up 7 percent from the same period last year despite recent declines. * Rental apartment vacancy rates rose to 9.2 percent in the second quarter from 8.9 percent in the first quarter. Slowing of household growth and the continuing increase in homeownership rates helped produce the higher vacancy rate. * Total households in June June: see month. were only 242,000 higher than the level estimated for a year earlier. Household growth had been running at annual rates above 1.5 million for most of last year. Household growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. began to trend downward late last year. It is not clear why this is occurring given the strength in the economy. The two most likely causes are sampling error in the survey used to make the estimates and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. adjustment from the unsustainable rates of growth prior to the easing. The latter is most likely. The Economy * Economic growth in the second quarter did not moderate, it increased to a 5.2 percent annual rate vs. the 4.8 percent for the first quarter. Private investment and inventory building were major factors in the higher rate of increase. Business machinery and equipment remains the principal driver of investment spending. Federal government rebounded in the second quarter after dropping in Dropping in is a skateboarding trick with which a skateboarder can start skating a half-pipe by dropping into it from the coping instead of starting from the bottom and pumping gradually for more speed. the first quarter. The 17 percent rate of increase in federal in the second quarter will not be sustained. Growth in consumption spending did moderate and spending on consumer durables Consumer durables Consumer products that are expected to last three years or more, such as an automobile or a home appliance. consumer durables See durable goods. (autos, appliances, etc.) fell. Lower durable spending is usually a strong sign of a moderating economy. * Consumers became more positive in July with their confidence index rising to 141.7 from 139.2 a month earlier. * The Index of Leading Economic Indicators index of leading economic indicators An index that is compiled by the Conference Board, a private-sector consulting firm. The index is designed to indicate the future direction of economic activity. did not change in June reflecting the easing in the economy that appears to be underway. Labor Markets * The unemployment rate remained at 4 percent in July despite the termination The point where a line, channel or circuit ends. See SCSI termination and hybrid. of a large number of temporary workers carrying out the 2000 Census census, periodic official count of the number of persons and their condition and of the resources of a country. In ancient times, among the Jews and Romans, such enumeration was mainly for taxation and conscription purposes. . Non-farm employers and private industry employers added 138,000 new jobs, but the U.S. Census Bureau Noun 1. Census Bureau - the bureau of the Commerce Department responsible for taking the census; provides demographic information and analyses about the population of the United States Bureau of the Census eliminated 290,000 workers. Inflation and Interest Rates * The Federal Reserve Board Open Market Committee did not raise interest rates further at its Aug. 22, 2000, meeting. The economy is showing more signs of future slowing. Business productivity growth rose to a 4.8 percent annual rate in the second quarter and offset the 4.4 percent annual rate of increase in employer's costs. Consumer price inflation rose at only a 2.1 percent at an annual rate in July, and producer prices dropped at a 0.9 percent annual rate. * Materials and components for construction costs in July were up only 0.1 percent from a year ago. Gypsum gypsum (jĭp`səm), mineral composed of calcium sulfate (calcium, sulfur, and oxygen) with two molecules of water, CaSO4·2H2O. It is the most common sulfate mineral, occurring in many places in a variety of forms. , lumber lumber, term for timber that has been cut into boards for use as a building material. The major steps in producing lumber involve logging (the felling and preparation of timber for shipment to sawmills), sawing the logs into boards, grading the boards according to and plywood plywood, manufactured board composed of an odd number of thin sheets of wood glued together under pressure with grains of the successive layers at right angles. Laminated wood differs from plywood in that the grains of its sheets are parallel. prices dropped sharply last month as new housing construction slows.
CURRENT RENTAL HOUSING MARKET--ECONOMIC & DEMOGRAPHIC INDICATORS
UNIT OF YEAR PREVIOUS
MEASURE AGO PERIOD
RENTAL VACANCY RATES
APARTMENTS PERCENT 9.0 8.9
ALL RENTAL UNITS PERCENT 8.1 7.9
NEW UNFURNISHED RENTAL
APARTMENTS
UNITS COMPLETED THOUSANDS 48.8 66.0
ABSORPTION RATES
3 MONTHS PERCENT 70 75
6 MONTHS PERCENT 87 88
9 MONTHS PERCENT 94 95
12 MONTHS PERCENT 99 97
MEDIAN RENTS-NEW UNITS $'s 724 770
MEDIAN ASKING RENTS-ALL
FOR RENT UNITS $'s 475 478
NEW CONDOMINIUM/COOPERATIVE
APARTMENTS
UNITS COMPLETED THOUSANDS 10.4 8.9
ABSORPTION RATES
3 MONTHS PERCENT 81 81
6 MONTHS PERCENT 80 88
9 MONTHS PERCENT 94 97
12 MONTHS PERCENT 96 98
MEDIAN ASKING PRICE $'s 124,600 139,100
TOTAL HOUSEHOLDS THOUSANDS 105070 105353
RENTAL HOUSEHOLDS THOUSANDS 35026 34592
% RENTAL HOUSEHOLDS PERCENT 33.4 32.9
MULTIFAMILY NEW CONSTRUCTION
NUMBER OF UNITS STARTED THOUSANDS (2) 356 341
APARTMENT UNITS STARTED THOUSANDS (2) 316 303
VALUE OF WORK PUT-IN-PLACE BILLIONS OF
$'s (2) 27.1 29.0
RENTAL & VACANT PROPERTY
MAINTENANCE, REPAIRS, &
IMPROVEMENTS (3) MILLIONS OF
$'s 7948 14369
PRICE INDEXES (4)
CONSUMER PRICES 1982-84=100 166.7 172.3
RENTS 1982-84=100 195.7 200.8
PRODUCER PRICES FINISHED 1982=100 132.9 138.4
GOODS
MATERIALS & COMPONENTS
FOR CONSTRUCTION 1982=100 150.3 150.8
GYPSUM PRODUCTS 1982=100 207.1 210.4
CEMENT 1982=100 151.2 150.0
SOFTWOOD LUMBER 1982=100 217.2 178.8
PLYWOOD 1982=100 200.1 138.6
ECONOMIC ACTIVITY
GDP BILLIONS OF
CURRENT (2) 9191.5 9752.7
BILLIONS OF
1996 $'s 8783.2 9192.8
PER CAPITA DISPOSABLE CURRENT $'s 24326 25319
INCOME 1996 DOLLARS 23255 23643
INDEX OF LEADING ECONOMIC
INDICATORS 1996=100 105.3 106.0
CONSUMER CONFIDENCE INDEX 1995=100 139.9 139.2
BUSINESS PRODUCTIVITY ANNUALIZED %
GROWTH 0.7 2.4
MANUFACTURING ANNUALIZED %
PRODUCTIVITY GROWTH 6.1 8.2
EMPLOYMENT
HOUSEHOLD BASIS THOUSANDS 133399 135179
ESTABLISHMENT BASIS THOUSANDS 128889 131620
UNEMPLOYMENT RATE PERCENT 4.3 4.0
CONSTRUCTION WORKERS PERCENT 6.9 5.9
EMPLOYMENT COST INDEX ANNUALIZED %
CHANGE 3.4 4.3
COMPENSATION COSTS ANNUALIZED %
CONSTRUCTION CHANGE 3.2 3.8
INTEREST RATES
3 MONTH BILLS PERCENT 4.60 5.69
1 YEAR TREASURIES PERCENT 5.10 6.17
10 YEAR TREASURIES PERCENT 5.90 6.10
30 YEAR TREASURIES PERCENT 6.04 5.93
YIELD CURVE (5) PERCENT 80 -7
CURRENT
REPORTING
NO. PERIOD
APARTMENTS PERCENT 9.2 Q2 00
ALL RENTAL UNITS PERCENT 8.0 Q2 00
NEW UNFURNISHED RENTAL
APARTMENTS
UNITS COMPLETED THOUSANDS 57.2 Q4 99
ABSORPTION RATES
3 MONTHS PERCENT 71 Q1 00
6 MONTHS PERCENT 90 Q1 00
9 MONTHS PERCENT 93 Q1 00
12 MONTHS PERCENT 97 Q1 00
MEDIAN RENTS-NEW UNITS $'s 785 Q1 00
MEDIAN ASKING RENTS-ALL
FOR RENT UNITS $'s 464 Q2 00
NEW CONDOMINIUM/COOPERATIVE
APARTMENTS
UNITS COMPLETED THOUSANDS 9.5 Q4 99
ABSORPTION RATES
3 MONTHS PERCENT 80 Q1 00
6 MONTHS PERCENT 91 Q1 00
9 MONTHS PERCENT 92 Q1 00
12 MONTHS PERCENT 98 Q1 00
MEDIAN ASKING PRICE $'s 112,100 Q1 00
TOTAL HOUSEHOLDS THOUSANDS 105312 JUNE
RENTAL HOUSEHOLDS THOUSANDS 34538 Q2 00
% RENTAL HOUSEHOLDS PERCENT 32.8 Q2 00
MULTIFAMILY NEW CONSTRUCTION
NUMBER OF UNITS STARTED THOUSANDS (2) 316 JULY
APARTMENT UNITS STARTED THOUSANDS (2) 279 JULY
VALUE OF WORK PUT-IN-PLACE BILLIONS OF
$'s (2) 29.3 JUNE
RENTAL & VACANT PROPERTY
MAINTENANCE, REPAIRS, &
IMPROVEMENTS (3) MILLIONS OF
$'s 14286 Q4 99
PRICE INDEXES (4)
CONSUMER PRICES 1982-84=100 172.6 JULY
RENTS 1982-84=100 201.7 JULY
PRODUCER PRICES 1982=100 138.3 JULY
FINISHED GOODS
MATERIALS & COMPONENTS
FOR CONSTRUCTION 1982=100 150.4 JULY
GYPSUM PRODUCTS 1982=100 204.9 JULY
CEMENT 1982=100 150.5 JULY
SOFTWOOD LUMBER 1982=100 172.9 JULY
PLYWOOD 1982=100 135.9 JULY
ECONOMIC ACTIVITY
GDP BILLIONS OF
CURRENT (2) 9937.3 Q2 00
BILLIONS OF
1996 $'s 9308.8 Q2 00
PER CAPITA DISPOSABLE CURRENT $'s 25375 JUNE
INCOME 1996 DOLLARS 23632 JUNE
INDEX OF LEADING ECONOMIC
INDICATORS 1996=100 106.0 JUNE
CONSUMER CONFIDENCE INDEX 1995=100 141.7 JULY
BUSINESS PRODUCTIVITY ANNUALIZED %
GROWTH 4.8 Q2 00
MANUFACTURING ANNUALIZED %
PRODUCTIVITY GROWTH 5.3 Q2 00
EMPLOYMENT
HOUSEHOLD BASIS THOUSANDS 134749 JULY
ESTABLISHMENT BASIS THOUSANDS 131512 JULY
UNEMPLOYMENT RATE PERCENT 4.0 JULY
CONSTRUCTION WORKERS PERCENT 5.9 JULY
EMPLOYMENT COST INDEX ANNUALIZED %
CHANGE 4.4 Q2 00
COMPENSATION COSTS ANNUALIZED %
CONSTRUCTION CHANGE 4.6 Q2 00
INTEREST RATES
3 MONTH BILLS PERCENT 6.14 JULY
1 YEAR TREASURIES PERCENT 6.08 JULY
10 YEAR TREASURIES PERCENT 6.05 JULY
30 YEAR TREASURIES PERCENT 5.85 JULY
YIELD CURVE (5) PERCENT -3 JULY
CURRENT
CHANGE FROM
YEAR PREVIOUS
AGO PERIOD
APARTMENTS PERCENT 0.2 0.3
ALL RENTAL UNITS PERCENT -0.1 0.1
NEW UNFURNISHED RENTAL
APARTMENTS
UNITS COMPLETED THOUSANDS 8.4 -8.8
ABSORPTION RATES
3 MONTHS PERCENT 1 -4
6 MONTHS PERCENT 3 2
9 MONTHS PERCENT -1 -2
12 MONTHS PERCENT -2 0
MEDIAN RENTS-NEW UNITS $'s 8.4% 1.9%
MEDIAN ASKING RENTS-ALL
FOR RENT UNITS $'s -2.3% -2.9%
NEW CONDOMINIUM/COOPERATIVE
APARTMENTS
UNITS COMPLETED THOUSANDS -0.9 0.6
ABSORPTION RATES
3 MONTHS PERCENT -1 -1
6 MONTHS PERCENT 11 3
9 MONTHS PERCENT -2 -5
12 MONTHS PERCENT 2 0
MEDIAN ASKING PRICE $'s -10.0% -19.4%
TOTAL HOUSEHOLDS THOUSANDS 242 -41
RENTAL HOUSEHOLDS THOUSANDS -488 -54
% RENTAL HOUSEHOLDS PERCENT -0.6 -0.1
MULTIFAMILY NEW CONSTRUCTION
NUMBER OF UNITS STARTED THOUSANDS (2) -40 -25
APARTMENT UNITS STARTED THOUSANDS (2) -37 -24
VALUE OF WORK PUT-IN-PLACE BILLIONS OF
$'s (2) 8.1% 1.0%
RENTAL & VACANT PROPERTY
MAINTENANCE, REPAIRS, &
IMPROVEMENTS (3) MILLIONS OF
$'s 79.7% -0.6%
PRICE INDEXES (4)
CONSUMER PRICES 1982-84=100 3.5% 2.1%(1)
RENTS 1982-84=100 3.1% 5.5%(1)
PRODUCER PRICES FINISHED 1982=100 4.1% -0.9%(1)
GOODS
MATERIALS & COMPONENTS
FOR CONSTRUCTION 1982=100 0.1% -3.1%(1)
GYPSUM PRODUCTS 1982=100 -1.1% -27.2%(1)
CEMENT 1982=100 -0.5% 4.1%(1)
SOFTWOOD LUMBER 1982=100 -20.5% 33.1%(1)
PLYWOOD 1982=100 -32.1% -21.0%(1)
ECONOMIC ACTIVITY
GDP BILLIONS OF
CURRENT (2) 8.1% 7.8%(1)
BILLIONS OF
1996 $'s 6.0% 5.1%(1)
PER CAPITA DISPOSABLE CURRENT $'s 4.3% 2.7%(1)
INCOME 1996 DOLLARS 1.6% -0.6%(1)
INDEX OF LEADING ECONOMIC
INDICATORS 1996=100 0.7 0.0
CONSUMER CONFIDENCE INDEX 1995=100 1.8 2.5
BUSINESS PRODUCTIVITY ANNUALIZED %
GROWTH 4.1 2.4
MANUFACTURING ANNUALIZED %
PRODUCTIVITY GROWTH -0.8 -2.9
EMPLOYMENT
HOUSEHOLD BASIS THOUSANDS 1350 -430
ESTABLISHMENT BASIS THOUSANDS 2623 -108
UNEMPLOYMENT RATE PERCENT -0.3 0.0
CONSTRUCTION WORKERS PERCENT 1.0 0.0
EMPLOYMENT COST INDEX ANNUALIZED %
CHANGE 1.0 0.1
COMPENSATION COSTS ANNUALIZED %
CONSTRUCTION CHANGE 1.4 0.8
INTEREST RATES
3 MONTH BILLS PERCENT 154 BP 45 BP
1 YEAR TREASURIES PERCENT 98 BP -9 BP
10 YEAR TREASURIES PERCENT 15 BP -5 BP
30 YEAR TREASURIES PERCENT -19 BP -8 BP
YIELD CURVE (5) PERCENT
(1) AT ANNUAL RATES; (2) SEASONALLY ADJUSTED Seasonally adjusted Mathematically adjusted by moderating a macroeconomic indicator (e.g., oil prices/imports) so that relative comparisons can be drawn from month to month all year. ANNUAL RATES; (3) ALSO INCLUDES ALL VACANT AND SEASONAL PROPERTIES; (4) NOT SEASONALLY ADJUSTED; (5) DIFFERENCE IN YIELDS BETWEEN 10 YEAR AND 1 YEAR TREASURIES SOURCE: U.S. DEPARTMENTS OF COMMERCE & LABOR, CONFERENCE BOARD, FEDERAL RESERVE BOARD, REGIS J SHEEHAN People whose surname is or was Sheehan include:
Information compiled by NAA NAA Nomina Anatomica Avium. Consulting Economist This article is about the profession. For the news publication, see The Economist. An economist is an expert in the social science of economics.[1] , Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. J. Sheehan. Mr. Sheehan is president of Regis J. Sheehan Data and Forecasting Services in McLean McLean, city (1990 pop. 38,168), Fairfax co., N Va., a suburb of Washington, D.C. Manufacturing includes foods, satellite components, and computer and telecommunications equipment. , Va. He can be reached at 703/893-9185 or by e-mail at gdad@erols.com. |
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