STEEL FRAMING ALLIANCE | FRAMEWORK ONLINE
  December 1, 2010
MARKETPLACE
 
Construction Spending Rises 0.7 Percent In October

WASHINGTON — Construction spending rose for the second straight month in October, pushed up by growth in residential building and government projects.

Construction spending increased 0.7 percent in October, matching the September gain, the Commerce Department reported Wednesday. It marked the first time that construction activity has risen for two straight months since March and April. Spending rose in October to a seasonally adjusted annual rate of $802.3 billion.

Even with the gains, construction spending is 33.7 percent below the peak hit in March 2006.

The increase in October came as a surprise to many economists who had been expecting a small decline.

Much of the strength came from a 2.5 percent rise in private residential construction. It was the biggest one-month gain since April and pushed activity in this category to a seasonally adjusted annual rate of $229.6 billion.

Spending on residential projects was up 0.6 percent in September after four straight monthly declines. Those came after a popular government tax credit for homebuyers ended in April.

Spending on nonresidential construction projects dropped 0.7 percent in October to a seasonally adjusted annual rate of $252.2 billion. Declines in construction of office buildings, shopping centers and hotels led to the drop.

The deep recession which ended in 2009 has cut demand for commercial projects. Builders have had trouble obtaining financing for projects as banks tighten credit standards.

Spending on government projects rose 0.4 percent in October to a seasonally adjusted annual rate of $320.5 billion. Federal building increasing to 0.9 percent to an annual rate of $33 billion, an all-time high on records that go back to 1992.

Spending on state and local projects rose 0.4 percent to a rate of $287.5 billion.

Source: Associated Press, December 1, 2010

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CFSEI 2010 Tech Notes And Webinars – At A Glance

Technical Publications

  • Updated Technical Note on Welding of Cold-Formed Steel Framing
  • Updated Technical Note on Top Track Load Distribution Members
  • New Technical Note on Local and Distortional Elastic Buckling Loads and Moments for SSMA Stud Sections (publication expected this month)
  • New Technical Note on Steel Roof Deck Diaphragms on CFS Framing  (publication expected this month)
  • New Technical Note on Clip Angles Used in Cold-Formed Steel Construction  (publication expected this month)

Web-Based Seminars

  • Beginners Guide to the Direct Strength Method for Cold-Formed Steel Design
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  • Cold-Formed Steel Connection Design: 2007 AISI and 2009 IBC

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