Sunday, March 1, 2015
YOLO COUNTY NEWS
99 CENTS

Construction spending dips 0.3 percent

By
From page A2 | January 02, 2013 |

WASHINGTON (AP) — U.S. builders spent less on construction projects in November, the first decline in eight months, as activity was held back by a big drop in spending on federal projects.

Construction spending dipped 0.3 percent in November compared with October, when spending had risen a revised 0.7 percent, the Commerce Department said Wednesday. The November decline was the first drop since March.

It left total spending at a seasonally adjusted annual rate of $866 billion, which is 16.1 percent above a 12-year low hit in February 2011. Even with the gain, the level of spending remained only about half of what’s considered healthy.

In November, spending on housing increased 0.4 percent, but spending on federal building projects fell 5.5 percent. Spending on nonresidential projects such as office buildings and shopping malls dropped 0.7 percent.

The weakness in nonresidential activity reflected declines in construction of office buildings, hotels and the category that includes shopping centers.

Overall government spending dipped 0.4 percent. That reflected the big decline in federal projects and a small 0.1 percent rise in spending on state and local projects.

According to a recent government report, builders broke ground on fewer homes in November after starting work at the fastest pace in more than four years in October. Housing starts are on track for their best year in four years.

Strength in home building has been one of the bright spots for the economy this year. But overall construction is still being offset by weakness in commercial real estate and tight state and local government budgets.

Sales of new homes rose 4.4 percent in November to the highest annual pace in two and a half years. New-home sales are more than 15 percent higher than a year ago.

From July through September, residential construction grew at an annual rate of 13.5 percent. Housing construction is on track to contribute to economic growth this year, the first time that has happened in the five years since the housing bubble burst.

Though new homes represent only a fraction of the housing market, they have an out-size impact on the economy. Each home built creates an average of three jobs for a year and generates about $90,000 in tax revenue, according to statistics from the National Association of Home Builders.

Builders are increasingly confident that the housing recovery will endure. A measure of their confidence rose in November to the highest level in 6 1/2 years.

————

By Martin Crutsinger, AP economics writer

Comments

comments

The Associated Press

.

News

Sheriff: Mother ‘sole person responsible’ for infant’s death

By Lauren Keene | From Page: A1 | Gallery

 
Rifle Team has a blast with competitive shooting

By Savannah Holmes | From Page: A1 | Gallery

Child abduction case in jury’s hands

By Anne Ternus-Bellamy | From Page: A1

 
Pipeline project will soften water in 2016

By Dave Ryan | From Page: A1

Pig out at Farmers Market’s Pig Day

By Enterprise staff | From Page: A1

 
Weekend storm drops snow, rain, hail in California

By The Associated Press | From Page: A2

Christie to Republicans: No rush to pick 2016 nominee

By The Associated Press | From Page: A2

 
Bob Dunning: Colon prep can be hard to swallow

By Bob Dunning | From Page: A2

Scouts help fill STEAC’s pantry

By Enterprise staff | From Page: A2

 
Explore Asia at Arboretum storytime

By Enterprise staff | From Page: A3

MU Games closing in late March

By Special to The Enterprise | From Page: A3

 
Still no parole in toddler case

By Enterprise staff | From Page: A3

City offers wetlands tour

By Special to The Enterprise | From Page: A3 | Gallery

 
Parole denied in 1987 killing spree

By Enterprise staff | From Page: A3

Young patients bond with special stuffies

By Special to The Enterprise | From Page: A4 | Gallery

 
Diversity theater group continues creativity workshops

By Special to The Enterprise | From Page: A4

Radio talk show moves to Mondays

By Enterprise staff | From Page: A4

 
Assault awareness campaign kicks off

By Anne Ternus-Bellamy | From Page: A4

UCD student with meningococcal disease is recovering

By Special to The Enterprise | From Page: A4

 
UCD student panel to cover anti-Semitism, Islamophobia

By Special to The Enterprise | From Page: A6

Yolo Food Bank hosts thank-you breakfast on Pig Day

By Enterprise staff | From Page: A9

 
.

Forum

Milt Priggee cartoon

By Debbie Davis | From Page: B4

 
Rowing: PE as well as life skills

By Letters to the Editor | From Page: B4

Police complaint procedures drafted

By Letters to the Editor | From Page: B4

 
Clarifying energy update letter

By Letters to the Editor | From Page: B4

Weekly claw pickup necessary

By Letters to the Editor | From Page: B4

 
Mars or ISIS? Similar outcome

By Letters to the Editor | From Page: B4

City may get charged up over energy choices

By Special to The Enterprise | From Page: B4

 
Design innovation centers for the 21st century

By Special to The Enterprise | From Page: B5

 
Speak out

By Enterprise staff | From Page: B5

 
A new perspective on life

By Creators Syndicate | From Page: A7

Distant water crisis has lessons for Davis

By Marion Franck | From Page: A7

 
Call for study to settle if anesthesia poses risk to babies

By The Associated Press | From Page: A7

.

Sports

Winning close games is the key for DHS softballers

By Spencer Ault | From Page: B1 | Gallery

 
Aggie men get a bounce-back win at Cal Poly

By Enterprise staff | From Page: B1

 
The mystery continues: lowly Gauchos upset UCD women

By Bruce Gallaudet | From Page: B1 | Gallery

Devils get a soccer win despite finishing woes

By Evan Ream | From Page: B1 | Gallery

 
Sports briefs: Razo throws well as Aggies get a baseball win

By Enterprise staff | From Page: B2 | Gallery

Defending champion Blue Devils have diamond holes to fill

By Thomas Oide | From Page: B3 | Gallery

 
Republic FC falls to storied New York Cosmos

By Evan Ream | From Page: B10

.

Features

.

Arts

.

Business

Yolo Federal Credit Union honored for supporting business education

By Special to The Enterprise | From Page: A10

 
Online store will celebrate, mock People’s Republic of Davis

By Wendy Weitzel | From Page: A10 | Gallery

.

Obituaries

.

Comics

Comics: Sunday, March 1, 2015

By Creator | From Page: B8