Rental Housing Market and Economic Update--August 2001.There is very limited positive data being released for the 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. market and the economy currently. Still, the rental market is very stable with the exception of some increases in 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. Economic, growth in the second quarter was quite anemic anemic pertaining to anemia. . The positive signs for the economy were a decline in the major inflation indicators and a moderation in compensation cost increases in the second quarter. Signs of significant upturn in the economy are elusive. What is more alarming is that lowering interest rates further may not induce in·duce v. 1. To bring about or stimulate the occurrence of something, such as labor. 2. To initiate or increase the production of an enzyme or other protein at the level of genetic transcription. 3. a recovery in the near term. Rental Housing Market Slowing in the economy is having a minor impact on rental vacancy rates. Rental vacancy rates for all apartments rose to 9.7 percent in the second quarter from 9.3 percent in the first quarter. This is the highest rate since the third quarter of 1998. The data services, such as REIS n. 1. The word is used as a Portuguese designation of money of account, one hundred reis being about equal in value to eleven cents. 1. A common title in the East for a person in authority, especially the captain of a ship. and MPF MPF mitosis-promoting factor. are showing vacancy rates averaging at around 4 percent for larger projects in about the 50 largest markets. These rates are up about 1 percentage point over the last two quarters. Rent increases moderated to a more sustainable 4.1 percent annual rate during July July: see month. . The rent index lags changes in the economy and increases will be relatively strong over the next several months at least. New apartment construction strengthened to a 333,000 unit 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 rate in July from 291,000 in June June: see month. . There are enough strong rental markets and new projects in the pipeline to support apartment starts rates at around the 300,000 level for the next few months at least. The index of building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . and components for construction fell at a 5.4 percent annual rate in July. Sharp drops in 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 , 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. and 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. products prices more than accounted for the decline. The U.S. Department of Commerce did impose a 19.3 percent import duty on lumber from Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of and lumber prices will most likely move up again. Rental households did not grow over the year period ending in the second quarter of this year. The estimate for the year period ending June showed a 25,000 decline in the number of rental households. The Economy Real gross domestic product (GDP GDP (guanosine diphosphate): see guanine. ) growth weakened weak·en tr. & intr.v. weak·ened, weak·en·ing, weak·ens To make or become weak or weaker. weak  en·er n. further in the
second quarter. It dropped to a 0.7 percent annual rate in the second
quarter, and we now have experienced four straight quarters of very low
growth. Business investment in equipment and software remains the most
significant problem, declining at a 14.5 percent annual rate. And there
are no signs of a tech recovery in the offing coming; arriving in the foreseeable future.visible but not nearby. See also: Offing Offing . Many economists This is an alphabetical list of notable economists. Economists are experts in the science of economics. There is also a list of politicians and statesmen with economic training. are now writing off the tax rebates tax rebate n → devolución f de impuestos; reembolso fiscal tax rebate n → ristourne f d'impôt tax rebate as a significant spur to the economy, but it is still too early to tell. Consumers became more cautious again in July and the Consumer Confidence Index Consumer Confidence Index A measure of consumer views regarding the current economic situation and consumer expectations for the future. Information for the index is compiled and released on the last Tuesday of each month by the Conference Board, an declined after two months of increases. Confidence of consumers is not being helped by the lack of real growth in personal incomes. Per capita [Latin, By the heads or polls.] A term used in the Descent and Distribution of the estate of one who dies without a will. It means to share and share alike according to the number of individuals. disposable disposable Nursing adjective Referring to that which is discarded or disposed of noun An item used in health care-related Pt contact which is discarded after use–eg masks, gloves, gowns, needles, paper products, syringes, wipes. See Biohazardous waste. personal incomes, with inflation removed, was essentially flat in June and this follows two straight months of declines. Labor Markets 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 Employers reduced their payroll payroll a list of employees, their salary rates, tax deductions, amounts paid, payroll tax, long service leave entitlements. by another 42,000 jobs in July. Over 100,000 jobs were lost in June. Compensation cost increases for all civilian CIVILIAN. A doctor, professor, or student of the civil law. workers moderated to 3.9 percent at an annual rate in the second quarter from 4.3 percent in the first quarter. The rate of increase for construction workers also moderated to 5 percent from 5.3 percent Inflation and Interest Rates The Federal Open Market Committee (FOMC See Federal Open Market Committee. FOMC See Federal Open Market Committee (FOMC). ) of the Federal Reserve System eased monetary policy again at its August 21 meeting. They lowered both the Federal Funds Federal Funds Funds deposited to regional Federal Reserve Banks by commercial banks, including funds in excess of reserve requirements. Notes: These non-interest bearing deposits are lent out at the Fed funds rate to other banks unable to meet overnight reserve target rate and discount rate by another 25 basis points. Consumer prices fell in July as a result of lower energy prices. And concurrently con·cur·rent adj. 1. Happening at the same time as something else. See Synonyms at contemporary. 2. Operating or acting in conjunction with another. 3. Meeting or tending to meet at the same point; convergent. producer prices for finished goods plunged by an 11.2 percent annual rate. Mixed Signals in Housing Construction in July "Mixed signals were present in the housing construction market for July. Housing starts in July rose to their highest level since January January: see month. of 2000. Building permit activity, however, last month did show some softening softening /sof·ten·ing/ (sof´en-ing) malacia. softening a change of consistency, with loss of firmness or hardness. . Permits, an indicator Indicator Anything used to predict future financial or economic trends. Notes: In the context of technical analysis, an indicator is a mathematical calculation based on a securities price and/or volume. The result is used to predict future prices. of future activity, dropped for the second month in a row," said 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. Sheehan People whose surname is or was Sheehan include:
An economist is an expert in the social science of economics.[1] to the National Apartment Association. The U.S. Department of Commerce reported a 1.672 million unit seasonally adjusted annual rate of housing starts in July, up 2.8 percent from the 1.627 million unit rate for June. Single family starts occurred at a 1.304 million unit annual rate during July, an increase of 1.5 percent from the 1.285 million rate for June. Total multifamily starts were estimated at a 368,000 unit rate in July, up 7.6 percent from the 342,000 units rate in June. Apartment (structures with five or more units) starts rose 14.4 percent last month to a 333,000 unit rate from 291,000 in June. Housing starts rose in all regions of the country in July with the exception of the Midwest Midwest or Middle West, region of the United States centered on the western Great Lakes and the upper-middle Mississippi valley. It is a somewhat imprecise term that has been applied to the northern section of the land between the Appalachians . The starts rate increased 21.3 percent in the Northeast “Northeastern” redirects here. For the Boston college, see Northeastern University, Boston. Northeast or north east is the ordinal direction halfway between north and east. It is the opposite of southwest. See boxing the compass. , 3.8 percent in the South and 2.3 percent in the West. They dropped 6.6 percent in the Midwest. Building permit activity fell 1.8 percent to a 1.558 million unit rate in July from 1.587 million in June. Single family permits declined 1.9 percent, and multifamily permits were off 1.7 percent. The apartment component of multifamily permits rose 3.2 percent. Housing starts rose 2.3 percent over the first seven months of this year. They totaled 962,500 units versus 940,900 units for the same period a year ago. Single family starts were 3.8 percent higher. Total multifamily starts fell 3.1 percent, with apartment construction off 3.8 percent. Rental Apartment Vacancy Rate Rose Again In Second Quarter The rental apartment (structures with five or more units) vacancy rate, as reported by the U.S. Department of Commerce, rose to 9.7 percent in the second quarter from 9.3 percent in the first quarter. An 8.3 percent vacancy rate was estimated for all rental units in the second quarter. It was essentially unchanged from the 8.2 percent rate for the first quarter. "Slowing in the economy is easing the demand for rental units and the rental apartment vacancy rate increased for the last two quarters. Nevertheless, the market remains relatively healthy," said Sheehan. Vacancy rates were mixed regionally in the second quarter. They rose to 10.3 percent in the Midwest from 8.9 percent in the first quarter, and to 5.3 percent in the Northeast from 5.1 percent vacancy rate in the South in the first quarter up from 10.8 percent in the South. Over the same period the rate increased to 8.9 percent in the Midwest from 8.7 percent, and in the West the rate increased to 5.8 percent from 53 percent. A decline to 5.1 percent from 5.3 percent occurred in the Northeast. Renter's share of total households was 32.5 percent in the first quarter, unchanged from the rate for the fourth quarter.
HOUSING CONSTRUCTION ACTIVITY
(units in thousands)
Housing Starts
(Seasonally Adjusted Annual Rates)
Change
June to July
June July
Month 2001 2001 No. %
Total 1,627 1,672 45 2.8%
Single Family 1,285 1,304 19 1.5%
Multifamily 342 368 26 7.6%
2 to 4 units 51 35 -16 -31.4%
5 or more units 291 333 42 14.4%
Northeast 141 171 30 21.3%
Midwest 339 316 -23 -6.8%
South 759 788 29 3.8%
West 388 397 9 2.3%
Change
June to July
June July
Month 2001 2001 No. %
Total 940.9 962.5 21.6 2.3%
Single Family 740.7 768.5 27.8 3.8%
Multifamily 200.3 194.1 -6.2 -3.1%
2 to 4 units 20.9 21.6 0.7 3.3%
5 or more units 179.4 172.5 -6.9 -3.8%
Northeast 85.8 84.4 -1.4 -1.6%
Midwest 190.9 190.1 -0.8 -0.4%
South 436.8 447.6 10.8 2.5%
West 227.4 240.3 12.9 5.7%
Units Completed
(Seasonally Adjusted Annual Rates)
Change
June to July
June July
Month 2001 2001 No. %
Total 1,626 1,525 -101 -6.2%
Single Family 1,259 228 -31 -2.5%
Multifamily 367 297 -70 -19.1%
2 to 4 units 48 30 -18 -37.5%
5 or more units 319 267 -52 -16.3%
Northeast 61 122 -39 -24.2%
Midwest 315 327 12 3.8%
South 774 734 -40 -5.2%
West 376 342 -34 -9.0%
Change
June to July
June July
Month 2001 2001 No. %
Total 878.0 835.9 -42.1 -4.8%
Single Family 691.6 660.6 -31.0 -4.5%
Multifamily 186.4 175.3 -11.1 -6.0%
2 to 4 units 14.7 19.2 4.5 30.6%
5 or more units 171.7 156.1 -15.6 -9.1%
Northeast 81.9 76.0 -5.9 -7.2%
Midwest 181.1 164.2 -16.9 -9.3%
South 411.2 394.1 -17.1 -4.2%
West 203.9 201.5 -2.4 -1.2%
Building Permits
(Seasonally Adjusted Annual Rates)
Change
June to July
June July
Month 2001 2001 No. %
Total 1,587 1,558 -29 -1.8%
Single Family 1,225 1,202 -23 -1.9%
Multifamily 362 356 -6 -1.7%
2 to 4 units 78 63 -15 -19.2%
5 or more units 284 293 9 3.2%
Northeast 142 161 19 13.4%
Midwest 342 320 -22 -6.4%
South 712 699 -13 -1.8%
West 391 378 -13 -3.3%
Change
June to July
Total 1st seven June July
Month 2001 2001 No. %
Total 813.8 827.3 13.5 1.7%
Single Family 609.7 633.5 23.8 3.9%
Multifamily 194.1 193.8 -0.3 -0.2%
2 to 4 units 31.4 33.6 2.2 7.0%
5 or more units 162.7 160.2 -2.5 -1.5%
Northeast 81.6 74.0 -7.6 -9.3%
Midwest 163.6 160.3 -3.3 -2.0%
South 364.9 377.0 12.1 3.3%
West 203.6 216.1 12.5 6.1%
Units Under Construction
at End of Period
(Seasonally Adjusted Annual Rates)
Change
June to July
June July
Month 2001 2001 No. %
Total 1,005 1,015 10 1.0%
Single Family 684 691 7 1.0%
Multifamily 321 324 30 .9%
2 to 4 units 29 29 00 .0%
5 or more units 292 295 31 .0%
Northeast 111 115 4 3.6%
Midwest 201 199 -2 -1.0%
South 429 433 4 0.9%
West 264 268 4 1.
Source: U.S. Department of Commerce
QUARTERLY RENTAL VACANCY RATES(*)
Units in
Structure Region
All
Rental North- Mid-
Units 1 2+ +5 east west South West
1990
1st 7.5 4.0 9.4 10.2 5.9 6.6 9.3 7.1
2nd 7.0 4.2 9.4 8.5 6.4 6.0 8.4 6.4
3rd 7.2 3.9 9.6 9.5 6.1 6.5 8.7 6.6
4th 7.2 4.0 9.2 9.5 6.2 6.6 8.9 6.4
1991
1st 7.5 3.8 9.4 9.9 7.0 6.9 8.8 6.6
2nd 7.3 4.3 9.4 10.7 6.8 6.4 9.2 6.1
3rd 7.6 3.7 9.6 10.7 7.3 6.8 8.8 7.0
4th 7.3 3.7 9.2 10.2 6.3 6.8 8.9 8.5
1992
1st 7.4 4.1 9.5 10.2 6.5 6.7 8.8 8.4
2nd 7.7 3.6 9.6 10.3 7.1 6.9 8.8 7.2
3rd 7.3 3.7 9.3 10.1 6.7 6.8 7.9 7.4
4th 7.1 3.8 8.9 9.7 7.4 6.1 8.0 6.4
1993(**)
1st 7.8 4.1 10.0 10.7 8.3 6.7 8.3 7.9
2nd 7.6 3.6 9.8 10.9 6.9 6.5 8.4 7.8
3rd 7.0 3.7 9.0 9.8 6.5 6.8 7.6 6.9
4th 6.9 3.5 8.8 9.4 6.4 6.2 7.4 7.1
1994
1st 7.5 4.7 9.2 9.9 7.3 7.0 8.2 7.2
2nd 7.4 4.2 9.2 10.0 7.1 7.1 7.7 7.3
3rd 7.2 4.4 8.9 9.5 7.0 6.5 7.8 7.2
4th 7.4 5.0 8.8 9.9 7.1 6.8 8.3 6.8
1991
1st 7.4 5.0 8.8 9.4 7.3 6.7 8.3 6.8
2nd 7.7 5.5 9.0 9.5 7.5 7.1 8.2 7.7
3rd 7.7 5.6 9.0 9.5 7.1 7.4 8.2 7.9
4th 7.7 5.3 9.2 9.6 6.9 7.6 8.5 7.5
1996
1st 7.9 5.6 9.2 9.8 6.9 8.3 8.5 7.6
2nd 7.8 5.3 9.2 9.5 7.6 7.2 8.6 7.2
3rd 8.0 5.6 9.5 9.9 7.8 7.8 8.7 7.4
4th 7.7 5.6 9.0 9. 7.1 8.2 8.5 6.7
1997
1st 7.5 5.5 8.7 8.8 6.1 8.5 8.7 6.2
2nd 7.9 6.0 9.1 9.4 6.7 8.2 9.3 6.8
3rd 7.9 5.7 9.2 9.4 7.2 7.9 9.1 6.8
4th 7.7 6.0 8.8 9.0 6.9 7.3 9.3 6.5
1998
1st 7.7 6.2 8.7 9.1 6.3 7.7 9.2 7.0
2nd 8.0 5.9 9.4 9.9 7.2 7.3 10.0 6.6
3rd 8.2 6.5 9.4 9.9 7.0 8.5 9.9 6.6
4th 7.8 6.7 8.5 8.9 6.1 8.0 9.5 6.6
1999
1st 8.2 6.9 9.0 9.2 6.5 8.4 10.4 6.3
2nd 8.17.1 7.1 8.8 9.0 7.0 8.2 10.2 6.6
3rd 8.2 7.9 8.6 8.7 6.3 8.9 10.4 6.3
4th 7.9 7.4 8.4 8.7 5.3 9.0 10.2 6.1
2000
1st 7.9 6.9 8.6 8.9 5.6 8.5 10.2 6.0
2nd 8.07.1 7.0 8.7 9.4 5.8 8.3 10.5 6.0
3rd 8.2 7.5 8.8 9.4 5.8 9.6 10.6 5.7
4th 7.8 7.0 8.4 8.9 5.3 8.7 10.8 5.3
2001
1st 8.2 7.6 8.7 9.3 5.1 8.9 11.3 5.8
2nd 8.37.1 7.7 8.8 9.7 5.3 10.3 10.8 5.7
(*) not seasonally adjusted
(**) series break
Source: U.S. Department of Commerce
CURRENT RENTAL HOUSING MARKET
Economic - Demographic Indicator
Current
Unit of Year Previous
Measure Ago Period
Rental Vacancy Rates
Apartments percent 9.4 9.3
All Rental Units percent 8.0 8.2
New Unfurnished Rental
Apartments
Units Completed thousands 58.3 65.9
Absorption Rates
3 months percent 70 76
6 months percent 89 90
9 months percent 94 95
12 months percent 97 98
Median Rents-New Units $'s 791 840
Median Asking Rent - All For
Rent Units $'s 464 478
New Condominium/Cooperative
Apartments
Units Completed thousands 9.2 9.6
Absorption Rates
3 months percent 78 73
6 months percent 76 92
9 months percent 92 91
12 months percent 96 98
Median Asking Price $'s $112,200 $145,300
Total Households thousands 105312 106866
Rental Households thousands 34538 34663
% Total Households percent 32.8 2.5
Multifamily New Construction
Number of Units Started thousands(1) 329 342
Apartment Units Started thousands(1) 280 291
Value of Work Put-in-Place billions of 28.5 31.0
$'s(1)
Rental Property Maintenance,
Repairs, & Improve- millions of 8751 7659
ments(2) $'s
Price Indexes(3)
Consumer Prices 1982-84=100 172.8 178.0
Rents 1982-84=100 202.1 209.0
Producer Prices Finished
Goods 1982=100 132.9 142.1
Materials & Components for
Construction 982=100 150.7 151.6
Gypsum Products 1982=100 166.8 112.9
Cement 1982=100 150.8 149.8
Softwood Lumber 1982=100 174.4 186.3
Plywood 1982=100 168.4 189.6
Economic Activity
GDP billions of 9303.9 9334.5
1996 $'s
billions of current $'s 9857.6 10141.7 10217.6
Per Capita Disposable In- current $'s 23538.0 26542.0
come 1992 Dollars 23768.0 24202.0
Index of Leading Economic
Indicators 1992=100 110.3 109.3
Consumer Confidence Index 1985=100 143.0 118.9
Business Productivity Annualized % 7.3 0.0
Growth
Manufacturing Productivity Annualized % 6.5 -3.6
Growth
Employment
Household Basis thousands 134898.0 134932.0
Establishment Basis thousands 131899.0 132437.0
Unemployment Rate percent 4.0 4.5
Construction Workers percent 6.0 6.6
Employment Cost Index Annualized % 4.4 4.1
change
Compensation Cost Index Annualized % 4.6 5.3
Construction change
Interest Rates
3 Month T Bills percent 5.96 3.49
1 Year Treasuries percent 6.08 3.58
10 Year Treasuries percent 6.05 5.28
30 Year Treasuries percent 5.85 5.67
Yield Curve (6) basis points -0.03 1.70
Current
Unit of Reporting
Measure No. Period
Rental Vacancy Rates
Apartments percent 9.7 Q2 01
All Rental Units percent 8.3 Q2 01
New Unfurnished Rental
Apartments
Units Completed thousands 53.7 Q4 00
Absorption Rates
3 months percent 65 Q1 01
6 months percent 87 Q1 01
9 months percent 95 Q1 01
12 months percent 98 Q1 01
Median Rents-New Units $'s 856 Q1 01
Median Asking Rent - All For
Rent Units $'s 502 Q2 01
New Condominium/Cooperative
Apartments
Units Completed thousands 9.6 Q4 00
Absorption Rates
3 months percent 79 Q1 01
6 months percent 82 Q1 01
9 months percent 95 Q1 01
12 months percent 94 Q1 01
Median Asking Price $'s $148,900 Q1 01
Total Households thousands 106736 June
Rental Households thousands 34513 Q2 01
% Total Households percent 32.3 Q2 01
Multifamily New Construction
Number of Units Started thousands(1) 368 July
Apartment Units Started thousands(1) 333 July
Value of Work Put-in-Place billions of 30.3 June
$'s(1)
Rental Property Maintenance,
Repairs, & Improve- millions of 5714 Q4 00
ments(2) $'s
Price Indexes(3)
Consumer Prices 1982-84=100 177.5 July
Rents 1982-84=100 209.7 July
Producer Prices Finished
Goods 1982=100 140.7 July
Materials & Components for
Construction 982=100 150.9 July
Gypsum Products 1982=100 107.9 July
Cement 1982=100 150.5 July
Softwood Lumber 1982=100 175.7 July
Plywood 1982=100 170.9 July
Economic Activity
GDP billions of 9351.6 Q2 01
billions of current $'s 1996 $'s
9857.6 Q2 01 3.7%
Per Capita Disposable In- current $'s 26598.0 June
come 1992 Dollars 24207.0 June
Index of Leading Economic
Indicators 1992=100 109.6 June
Consumer Confidence Index 1985=100 116.5 July
Business Productivity Annualized % 2.8 Q2 01
Growth
Manufacturing Productivity Annualized % -0.2 Q2 01
Growth
Employment
Household Basis thousands 135379.0 July
Establishment Basis thousands 132395.0 July
Unemployment Rate percent 4.5 July
Construction Workers percent 6.7 July
Employment Cost Index Annualized % 3.9 Q2 01
change
Compensation Cost Index Annualized % 5.0 Q2 01
Construction change
Interest Rates
3 Month T Bills percent 3.51 July
1 Year Treasuries percent 3.62 July
10 Year Treasuries percent 5.24 July
30 Year Treasuries percent 5.61 July
Yield Curve (6) basis points 1.62 July
Current
Unit of Year Previous
Measure Ago Period
Rental Vacancy Rates
Apartments percent 0.3 0.4
All Rental Units percent 0.3 0.1
New Unfurnished Rental
Apartments
Units Completed thousands -4.6 -12.2
Absorption Rates
3 months percent -5.1 -11.0
6 months percent -2.1 -3.0
9 months percent 1.1 0.0
12 months percent 1.1 0.0
Median Rents-New Units $'s 8.2% 1.9%
Median Asking Rent - All For
Rent Units $'s 8.2% 5.0%
New Condominium/Cooperative
Apartments
Units Completed thousands 0.4 0.0
Absorption Rates
3 months percent 1.0 6
6 months percent 6.0 -10
9 months percent 3.0 4
12 months percent -2.0 -4
Median Asking Price $'s 32.7% 2.5%
Total Households thousands 1424.0 -130
Rental Households thousands -25.0 -150
% Total Households percent -0.5 -0.2
Multifamily New Construction
Number of Units Started thousands(1) 39.0 26
Apartment Units Started thousands(1) 53.0 42
Value of Work Put-in-Place billions of 6.3% -2.3%
$'s(1)
Rental Property Maintenance,
Repairs, & Improve- millions of -34.7% -25.4%
ments(2) $'s
Price Indexes(3)
Consumer Prices 1982-84=100 2.7% -3.3%
Rents 1982-84=100 3.8% 4.1%
Producer Prices Finished
Goods 1982=100 5.9% -11.2%
Materials & Components for
Construction 982=100 0.1% -5.4%
Gypsum Products 1982=100 -35.3% -41.9%
Cement 1982=100 -0.2% 5.8%
Softwood Lumber 1982=100 0.7% -50.5%
Plywood 1982=100 1.5% -71.2%
Economic Activity
GDP billions of 0.5% 0.7%(4)
billions of current $'s 1996 $'s
9857.6 3.0%(4)
Per Capita Disposable In- current $'s 13.0% 0.8%(4)
come 1992 Dollars 1.8% 0.1%(4)
Index of Leading Economic
Indicators 1992=100 -0.7% 0.3
Consumer Confidence Index 1985=100 -26.5 -2.4
Business Productivity Annualized % -4.5 2.8
Growth
Manufacturing Productivity Annualized % -6.7 3.4
Growth
Employment
Household Basis thousands 481.0 447.0
Establishment Basis thousands 496.0 -42.0
Unemployment Rate percent 0.5 0.0
Construction Workers percent 0.7 0.1
Employment Cost Index Annualized % -0.5 -0.2
change
Compensation Cost Index Annualized % 0.4 -0.3
Construction change
Interest Rates
3 Month T Bills percent -245 bp 2 bp
1 Year Treasuries percent -246 bp 4 bp
10 Year Treasuries percent -81 bp -4 bp
30 Year Treasuries percent 24 bp -6 bp
Yield Curve (6) basis points
(1) At annual rates
(2) Seasonally adjusted annual rates
(3) Also includes all vacant and seasonal properties
(4) Not seasonally adjusted
(5) Output per hour worked
(6) 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 & Associates
Robert J. Sheehan is President of Regis (REmote Graphics InStruction) A graphics language from Digital used on graphics terminals and first introduced on the PDP-11. J. Sheehan Data and Forecasting Service 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., and serves as NAA's Consulting Economist. He can be reached at 703/893-9185 or by e-mail at gdad@erols.com. |
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