(09-26-17) Architecture firm billings increased for the seventh consecutive month in August, with the Architecture Billings Index (ABI) score rising to 53.7, as more firms reported improving business conditions in August than in July. Inquiries into new projects remained strong as well, and firms continued to report an increase in the value of new design contracts. Billings also remained strong at firms across the country, with firms in all four regions seeing growth for the third month in a row. Since this survey covered August billings, it was too early to see an impact from Hurricanes Harvey and Irma; these disasters may potentially affect billings in the south over the next few months. Otherwise, firms of all specializations reported improving business conditions this month, continuing the strong growth trend that has been seen all year.
Conference Board – Consumer Confidence Index
(09-26-17) The Conference Board Consumer Confidence Index, which had improved marginally in August, declined slightly in September. The Index now stands at 119.8 (1985=100), down from 120.4 in August. The Present Situation Index decreased from 148.4 to 146.1, while the Expectations Index rose marginally from 101.7 last month to 102.2. The monthly Consumer Confidence Survey, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was September 18. “Consumer confidence decreased slightly in September after a marginal improvement in August,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Confidence in Texas and Florida, however, decreased considerably, as these two states were the most severely impacted by Hurricanes Harvey and Irma. Despite the slight downtick in confidence, consumers’ assessment of current conditions remains quite favorable and their expectations for the short-term suggest the economy will continue expanding at its current pace.” Consumers’ assessment of current conditions moderated in September. Those saying business conditions are “good” decreased slightly from 34.5 percent to 33.9 percent, while those saying business conditions are “bad” increased from 13.2 percent to 13.8 percent. Consumers’ appraisal of the labor market was also somewhat less upbeat. Those stating jobs are “plentiful” declined from 34.4 percent to 32.6 percent, however, those claiming jobs are “hard to get” decreased marginally from 18.4 percent to 18.1 percent. Consumers’ optimism about the short-term outlook was somewhat better in September. The percentage of consumers expecting business conditions to improve over the next six months rose slightly from 19.8 percent to 20.2 percent, but those expecting business conditions to worsen increased from 8.0 percent to 9.9 percent. Consumers’ outlook for the labor market was more favorable than in August. The proportion expecting more jobs in the months ahead increased from 16.8 percent to 19.5 percent, while those anticipating fewer jobs rose marginally from 13.2 percent to 13.5 percent. Regarding their short-term income prospects, the percentage of consumers expecting an improvement increased moderately from 19.9 percent to 20.5 percent, while the proportion expecting a decline was virtually unchanged at 8.3 percent.
Conference Board – Leading Economic Index
(09-21-17) The Conference Board Leading Economic Index (LEI)for the U.S. increased 0.4 percent in August to 128.8 (2010 = 100), following a 0.3 percent increase in July, and a 0.6 percent increase in June. “The August gain is consistent with continuing growth in the U.S. economy for the second half of the year, which may even see a moderate pick up,” said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board. “While the economic impact of recent hurricanes is not fully reflected in the leading indicators yet, the underlying trends suggest that the current solid pace of growth should continue in the near term.” The Conference Board Coincident Economic Index (CEI) for the U.S. was unchanged in August, remaining at 115.8 (2010 = 100), following a 0.3 percent increase in July, and a 0.1 percent increase in June. The Conference Board Lagging Economic Index (LAG) for the U.S. increased 0.3 percent in August to 125.2 (2010 = 100), following a 0.2 percent increase in July and a 0.2 percent increase in June.
Durable Goods – Shipments and New Orders
(09-27-17) The U.S. Census Bureau announces the August advance report on manufacturers’ shipments, inventories and orders:New Orders: New orders for manufactured durable goods in August increased $3.9 billion or 1.7 percent to $232.8 billion, the U.S. Census Bureau announced today. This increase, up two of the last three months, followed a 6.8 percent July decrease. Excluding transportation, new orders increased 0.2 percent. Excluding defense, new orders increased 2.2 percent. Transportation equipment, also up two of the last three months, led the increase, $3.6 billion or 4.9 percent to $77.4 billion. Shipments: Shipments of manufactured durable goods in August, up three of the last four months, increased $0.7 billion or 0.3 percent to $237.2 billion. This followed a 0.1 percent July increase. Machinery, up nine of the last ten months, led the increase, $0.3 billion or 1.1 percent to $31.4 billion. Unfilled Orders: Unfilled orders for manufactured durable goods in August, up two of the last three months, increased $0.1 billion or virtually unchanged to $1,132.3 billion. This followed a 0.3 percent July decrease. Fabricated metal products, up seven of the last eight months, drove the increase, $0.5 billion or 0.6 percent to $79.3 billion. Inventories: Inventories of manufactured durable goods in August, up thirteen of the last fourteen months, increased $1.4 billion or 0.3 percent to $400.5 billion. This followed a 0.4 percent July increase. Machinery, up nine of the last ten months, led the increase, $0.6 billion or 0.8 percent to $69.0 billion. Capital Goods: Nondefense new orders for capital goods in August increased $3.2 billion or 4.7 percent to $71.0 billion. Shipments decreased $1.1 billion or 1.5 percent to $71.6 billion. Unfilled orders decreased $0.6 billion or 0.1 percent to $704.0 billion. Inventories increased $0.7 billion or 0.4 percent to $178.3 billion. Defense new orders for capital goods in August decreased $1.1 billion or 9.4 percent to $10.7 billion. Shipments: increased $0.1 billion or 0.8 percent to $10.4 billion. Unfilled orders increased $0.3 billion or 0.2 percent to $142.6 billion. Inventories increased $0.3 billion or 1.1 percent to $23.5 billion. Revised July Data: Revised seasonally adjusted July figures for all manufacturing industries were: new orders, $465.9 billion (revised from $466.4 billion); shipments, $473.5 billion (revised from $474.3 billion); unfilled orders, $1,132.3 billion (revised from $1,131.9 billion) and total inventories, $652.0 billion (revised from $651.6 billion).
(09-28-17) Real gross domestic product (GDP) increased at an annual rate of 3.1 percent in the second quarter of 2017 (table 1), according to the “third” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 1.2 percent. The GDP estimate released today is based on more complete source data than were available for the “second” estimate issued last month. In the second estimate, the increase in real GDP was 3.0 percent. With this third estimate for the second quarter, private inventory investment increased more than previously estimated, but the general picture of economic growth remains the same.
National Association of Home Builders – New Home Sales
(09-26-17) Sales of newly built, single-family homes in August fell 3.4 percent to a seasonally adjusted annual rate of 560,000 units from an upwardly revised July reading, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This was the lowest sales reading since December 2016. However, year-to-date, new home sales are 7.5 percent above their level over the same period last year. “This month’s report is another reminder that builders need to manage rising supply-side costs to meet consumer demand for affordably priced homes,” said Granger MacDonald, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Kerrville, Texas. “The year-to-date growth shows that new home sales are continuing to make consistent, long-term gains,” said NAHB Chief Economist Robert Dietz. “However, we may see more volatility in the next few months as communities affected by the recent hurricanes experience construction delays and other economic disruptions.” The inventory of new homes for sale was 284,000 in August, which is a 6.1-month supply at the current sales pace. Regionally, new home sales remained unchanged in the Midwest. Sales fell 2.6 percent in the Northeast, 2.7 percent in the West and 4.7 percent in the South.
NAHB Builder Confidence
(09-18-17) Builder confidence in the market for newly-built single-family homes fell three points to a level of 64 in September from a downwardly revised August reading of 67 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). “The recent hurricanes have intensified our members’ concerns about the availability of labor and the cost of building materials,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. “Once the rebuilding process is underway, I expect builder confidence will return to the high levels we saw this spring.” “Despite this month’s drop, builder confidence is still on very firm ground,” said NAHB Chief Economist Robert Dietz. “With ongoing job creation, economic growth and rising consumer confidence, we should see the housing market continue to recover at a gradual, steady pace throughout the rest of the year.” Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor. All three HMI components posted losses in September but remain at healthy levels. The component gauging current sales conditions fell four points to 70 and the index charting sales expectations in the next six months dropped four points to 74. Meanwhile, the component measuring buyer traffic slipped a single point to 47. Looking at the three-month moving averages for regional HMI scores, the West increased three points to 77 and the Northeast rose one point to 49. The South dropped a single point to 66 and the Midwest fell three points to 63.
Housing Starts and Permitting
(07-19-17) Building Permits: Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,300,000. This is 5.7 percent (±2.0 percent) above the revised July rate of 1,230,000 and is8.3 percent (±1.6 percent) above the August 2016 rate of 1,200,000. Single-family authorizations in August were at a rate of 800,000; this is 1.5 percent (±1.3 percent) below the revised July figure of 812,000. Authorizations of units in buildings with five units or more were at a rate of 464,000 in August. Housing Starts: Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,180,000. This is 0.8 percent (±9.6 percent)* below the revised July estimate of 1,190,000, but is 1.4 percent (±8.9 percent)* above the August 2016 rate of 1,164,000. Single-family housing starts in August were at a rate of 851,000; this is 1.6 percent (±9.0 percent)* above the revised July figure of 838,000. The August rate for units in buildings with five units or more was 323,000. Housing Completions: Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,075,000. This is 10.2 percent (±12.3 percent)* below the revised July estimate of 1,197,000, but is 3.4 percent (±13.0 percent)* above the August 2016 rate of 1,040,000. Single-family housing completions in August were at a rate of 724,000; this is 13.3 percent (±14.7 percent)* below the revised July rate of 835,000. The August rate for units in buildings with five units or more was 348,000.
Steel Service Centers – Shipments and Inventory
(09-18-17) Except for a small decline in Canadian aluminum shipments, the modest year over year growth in service center shipments of the last four months continued in August. U.S. Service Center Activity: U.S. service center steel shipments in August 2017 increased by 2.7% from August 2016. Steel product inventories decreased 1.9% from August a year ago. U.S. service center shipments of aluminum products in August increased by 10.8% from the same month in 2016. Inventories of aluminum products increased 3.2% from August a year ago. Canadian Service Center Activity: Canadian service center shipments of steel products in August 2017 increased by 6.2% from August 2016. Steel product inventories increased 2.9% from August a year ago. Canadian service center aluminum shipments in August decreased 3.4% from the same month in 2016. Inventories of aluminum products decreased 0.3% from August a year ago.
The Employment Situation
(10-06-17) The unemployment rate declined to 4.2 percent in September, and total nonfarm payroll employment changed little (-33,000), the U.S. Bureau of Labor Statistics reported today. A sharp employment decline in food services and drinking places and below-trend growth in some other industries likely reflected the impact of Hurricanes Irma and Harvey. Household Survey Data: The unemployment rate decreased by 0.2 percentage point to 4.2 percent in September, and the number of unemployed persons declined by 331,000 to 6.8 million. Both measures were down over the year. mong the major worker groups, the unemployment rates for adult men (3.9 percent) and Blacks (7.0 percent) declined in September. The jobless rates for adult women (3.9 percent), teenagers (12.9 percent), Whites (3.7 percent), Asians (3.7 percent), and Hispanics (5.1 percent) showed little change. The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged in September at 1.7 million and accounted for 25.5 percent of the unemployed. The employment-population ratio increased by 0.3 percentage point to 60.4 percent in September and has increased by 0.6 percentage point over the past 12 months. The labor force participation rate, at 63.1 percent, changed little over the month and has shown little movement over the year. The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 5.1 million in September. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find full-time jobs. In September, 1.6 million persons were marginally attached to the labor force, down by 275,000 from a year earlier. (These data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally attached, there were 421,000 discouraged workers in September, down by 132,000 from a year earlier. Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.1 million persons marginally attached to the labor force in September had not searched for work for reasons such as school attendance or family responsibilities.
Retail Sales – Advanced Estimates
(09-15-17) Advance estimates of U.S. retail and food services sales for August 2017, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $474.8 billion, a decrease of 0.2 percent (±0.5 percent)* from the previous month, and 3.2 percent (±0.7 percent) above August 2016. Total sales for the June 2017 through August 2017 period were up 3.2 percent (±0.7 percent) from the same period a year ago. The June 2017 to July 2017 percent change was revised from up 0.6 percent (±0.5 percent) to up 0.3 percent (±0.1 percent). Retail trade sales were down 0.3 percent (±0.5 percent)* from July 2017, and up 3.3 percent (±0.7 percent) from last year. Nonstore Retailers were up 8.4 percent (±1.6 percent) from August 2016, while Building Materials and Garden Equipment and Supplies Dealers were up 7.5 percent (±1.9 percent) from last year.
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Last updated: August 2019
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The Website and the Content are intended for your personal use. You may access and view the content on the Website via your computer or other internet compatible device, and make single copies or prints of the content on the Website for your personal, internal use only. The Website and the services offered on or through the Website, including Pipe Exchange’s e-publication and any other content and materials thereon, are only for your personal, non-commercial use. Except as otherwise provided on the Website, you may not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, sell, create derivative works from, transfer, or sell any information, software, products or services obtained from the Website. Use of the Website to sell a product or service, or to increase traffic to your website for commercial reasons, such as advertising sales is expressly forbidden.
Any commercial distribution, publishing or exploitation of the Website, or any content, code, data or materials on the Website, is strictly prohibited unless you have received the express prior permission of Pipe Exchange or the applicable rights holder. You may not otherwise download, display, copy, reproduce, distribute, modify, perform, transfer, create derivative works from, sell or otherwise exploit any content, code, data or materials on the Website. If you make other use of the Website, or the content, code, data or materials thereon, except as otherwise provided above, you may violate copyright and other laws of the United States, other countries, as well as applicable state laws and may be subject to liability for such unauthorized use. Pipe Exchange will aggressively enforce its intellectual property rights to the fullest extent of the law, including the seeking of criminal prosecution.
You are prohibited from violating, or attempting to violate the security of the Website. Any such violations may result in criminal and civil liabilities to you. You warrant and agree that, while using the Website and the various services and features offered on or through the Website, you shall not: (a) impersonate any person or entity or misrepresent your affiliation with any other person or entity; (b) insert your own or a third party’s advertising, branding or other promotional content into any of the Website’s content, materials or services, or use, redistribute, republish or exploit such content or service for any further commercial or promotional purposes or take any action that would constitute or could be interpreted as an endorsement or sponsorship by Pipe Exchange of any third party site, content, information or other materials, or in any manner that would violate the terms and conditions of any such third party sites; (c) attempt to probe, scan, or test the vulnerability of any system or network; or (d) attempt to gain unauthorized access to data not intended for you and/or other computer systems through the Website. You shall not: (i) engage in spidering, “screen scraping,” “database scraping,” harvesting of e-mail addresses, wireless addresses or other contact or personal information, or any other automatic means of accessing, logging-in or registering on the Website or for any services or features offered on or through the Website, or obtaining lists of users or obtaining or accessing other information or features on, from or through the Website or the services offered on or through the Website, including, without limitation, any information residing on any server or database connected to the Website or any services offered on or through the Website; (ii) obtain or attempt to obtain unauthorized access to computer systems, materials, information or any services made available on or through the Website through any means; (iii) use the Website or the services made available on or through the Website in any manner with the intent to interrupt, damage, disable, overburden, or impair the Website or such services, including, without limitation, sending mass unsolicited messages or “flooding,” “spamming,” or “crashing” any systems; (iv) use the Website or the Website’s services or features in violation of Pipe Exchange’s or any third party’s intellectual property or other proprietary or legal rights; or (v) use the Website or the Website’s services in violation of any applicable law. You further agree that you may not attempt (or encourage or support anyone else’s attempt) to circumvent, reverse engineer, decrypt, or otherwise alter or interfere with the Website or the Website’s services, or any content thereof, or make unauthorized use thereof. You agree that you will not use the Website in any manner that could damage, disable, overburden, or impair the Website or interfere with any other party’s use and enjoyment of the Website. You may not obtain or attempt to obtain any materials or information through any means not intentionally made publicly available or provided for through the Website. Pipe Exchange will investigate any alleged violations and will cooperate with law enforcement agencies in their investigations.
Some of the information and material available through the Website are provided to Pipe Exchange by third parties (“Third-Party Material”). In some instances, the source of the Third-Party Material is identified. Third-Party Material is provided for your convenience only and Pipe Exchange does not endorse these materials or the parties who supply them to us. Pipe Exchange does not warrant or represent that these Third-Party Materials are current, accurate or reliable.
We respect the intellectual property rights of others, and require that the people who use the Website do the same. If you believe that your work has been copied in a way that constitutes copyright infringement, please forward the following information to Pipe Exchange’s Copyright Agent, designated as such pursuant to the Digital Millennium Copyright Act, 17 U.S.C. § 512(c)(2), named below:
Your address, telephone number, and email address;
A description of the copyrighted work that you claim has been infringed;
A description of where the alleged infringing material is located;
A statement by you that you have a good faith belief that the disputed use is not authorized by the copyright owner, its agent, or the law;
An electronic or physical signature of the person authorized to act on behalf of the owner of the copyright interest; and
A statement by you, made under penalty of perjury, that the above information in your Notice is accurate and that you are the copyright owner or authorized to act on the copyright owner’s behalf.
For all email submissions please include the subject line: DMCA Takedown Request.
Pipe Exchange has adopted a policy of terminating, in appropriate circumstances, accounts of users of the services or the Website who are deemed to have repeatedly uploaded content that infringes the intellectual property rights of others.
Pipe Exchange Legal
c/o Pipe Exchange LLC
14025 West Road. Suite #100 Houston, TX 77041
Phone: + (713) 934-9480
DISCLAIMER OF WARRANTIES
THE WEBSITE AND ITS CONTENT ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER. PIPE EXCHANGE, TO THE FULLEST EXTENT PERMITTED BY LAW, DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTY OF MERCHANTABILITY, NON-INFRINGEMENT OF THIRD PARTIES RIGHTS, AND THE WARRANTY OF FITNESS FOR PARTICULAR PURPOSE. PIPE EXCHANGE MAKES NO WARRANTIES ABOUT THE ACCURACY, RELIABILITY, COMPLETENESS, OR TIMELINESS OF THE MATERIAL, SERVICES, SOFTWARE, TEXT, GRAPHICS, AND LINKS FOUND OR CONTAINED ON THE WEBSITE. PIPE EXCHANGE DOES NOT WARRANT THAT THE WEBSITE, THE CONTENT, OR ITS SERVERS ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. YOU UNDERSTAND AND AGREE THAT YOU OBTAIN MATERIAL THROUGH THE USE OF THE WEBSITE AT YOUR OWN DISCRETION AND RISK AND THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGES TO YOUR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS.
ALL MATERIAL CONTAINED IN THE WEBSITE IS FOR GENERAL INFORMATION ONLY, HAS NOT BEEN INDEPENDENTLY VERIFIED, HAS NOT BEEN RECOMMENDED BY ANY FEDERAL OR STATE REGULATORY AUTHORITY AND MAY CONTAIN ERRORS OR OMISSIONS OF MATERIAL INFORMATION. THE MATERIAL AND INFORMATION CONTAINED ON THE WEBSITE SHOULD NOT, THEREFORE, BE USED OR RELIED UPON FOR ANY SPECIFIC REASON OR APPLICATION WITHOUT INDEPENDENT COMPETENT PROFESSIONAL EXAMINATION AND VERIFICATION OF ITS ACCURACY, COMPLETENESS, SUITABILITY AND APPLICABILITY. ANYONE MAKING USE OF THE MATERIAL DOES SO AT HIS/HER/ITS OWN SOLE AND EXCLUSIVE RISK AND ASSUMES ANY AND ALL ACTUAL OR POTENTIAL DAMAGE OR LIABILITY RESULTING FROM SUCH USE.
LIMITATION OF LIABILITY
IN NO EVENT SHALL PIPE EXCHANGE BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, LOST PROFITS, OR DAMAGES RESULTING FROM LOST DATA OR BUSINESS INTERRUPTION) RESULTING FROM THE USE OR INABILITY TO USE MATERIAL ON THE WEBSITE OR SITES LINKED TO THE WEBSITE, WHETHER BASED ON WARRANTY, CONTRACT, TORT, OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT PIPE EXCHANGE IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
Pipe Exchange may terminate, change, suspend or discontinue any aspect of the Website or the Website’s services at any time. Pipe Exchange may restrict, suspend or terminate your access to the Website and/or its services if we believe you are in breach of our terms and conditions or applicable law, or for any other reason without notice or liability. Pipe Exchange maintains a policy that provides for the termination in appropriate circumstances of the Website use privileges of users who are repeat infringers of intellectual property rights.
GOVERNING LAW AND VENUE
Send an email to firstname.lastname@example.org
Write to Pipe Exchange at the following address:
14025 West Road
Houston, TX 77041