The Obama Recovery Continues :: Construction Posts Biggest Monthly Gain Since 2000

[jefferson_dem]

Construction Posts Biggest Monthly Gain Since 2000
by The Associated Press

Construction activity surged in April by the largest amount in nearly a decade. The unexpected gains could mean the hardest-hit sector of the economy is starting to recover.

Construction shot up 2.7 percent last month compared to March, the Commerce Department said Tuesday. It was the biggest one-month improvement since August 2000.

A separate report Tuesday from a private trade group said the manufacturing sector expanded in May, thought at a slower pace, marking the 10th consecutive month of growth.

Housing construction jumped by 4.4 percent to a seasonally adjusted annual rate of $263 billion. Home construction has been helped by home buyer tax credits that expired at the end of April. Economists are concerned about the durability of the housing recovery now that the tax credits have expired.

Nonresidential construction rose 1.7 percent in April to an annual rate of $302.7 billion. That marked the first advance in this category since March 2009. The strength in April came from gains in private sector work on communications projects and power generation facilities. Construction of office buildings and the category that includes shopping centers fell in April.

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http://www.npr.org/templates/story/story.php?storyId=127315508&f=1001&sc=tw&utm_source=twitterfeed&utm_medium=twitter

[Clio the Leo]

1. It sure does. NT

[jefferson_dem]

2. Greetings Clio!

:hi: Hope you had a nice holiday.

[Clio the Leo]

4. What up Jeff!

I had to work and had a cold .... but it could have been worse .... at least my Memorial Day speech didn't get rained out just before I had a flat tire on the freeway while the world b*tched and moaned that I wasn't being emotional enough. :)

[tandot]

3. K & R

[Teaser]

5. We all know that Chicago Hitler had nothing to do with the recovery

.

[NJmaverick]

6. K & R!