Tag Archive for 'construction industry'

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AEM President Slater on 2014 Elections

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Dennis Slater, AEM President

Dennis Slater, AEM President

Dennis Slater, president of the Association of Equipment Manufacturers (AEM), made the following statement following statement following the results of the 2014 midterm elections:

Yesterday evening, voters across America made it clear that they think Washington is broken, and they expect our elected leaders to come together to fix it.

Americans have grown tired of the gridlock and partisan bickering that has plagued Capitol Hill in recent years. With tonight’s election, they have sent a clear signal that they want action on the problems facing this nation. It is far past time for our lawmakers to put aside partisan differences and work together toward crafting constructive solutions. The new leadership in the U.S. Senate must now demonstrate they can move America forward.

That means no more threats of government shutdowns or risking defaulting on our national debt, and an end to pointless show votes that serve no purpose but to energize each party’s ideological core at the expense of productive legislating.

Equipment manufacturers and the broader business community share voters’ frustration. The good news is that there is ample opportunity for President Obama and Congress to work together on commonsense solutions. Those efforts should begin without delay; there’s no excuse for Congress to waste the next two months by failing to deal with issues that demand their attention now.

An immediate order of business for Congress should be responsibly fixing the Highway Trust Fund by restoring the gas tax to its 1993 buying power while oil prices are at recent record lows. Congress can continue to boost access to affordable energy by approving construction of the Keystone XL Pipeline.

They can rally around commonsense legislation to reauthorize the Export-Import Bank for the long term and give American manufacturers the tools they need to compete in the global marketplace and support jobs in the United States. Lawmakers should give President Obama improved authority to negotiate trade deals and move toward swiftly approving pending trade deals with our European and Asian partners.

And there is both ample room and great need for Congress to find a bipartisan solution to fixing a tax system that has become so complex and burdensome that it is now a barrier to job creation.

The 114th Congress faces a choice: They can repair their broken bond with voters, or they can continue down their current path and risk turning their relationship with voters into something more toxic.

On behalf of the equipment manufacturing industry, I sincerely hope that President Obama, Speaker Boehner and our Senate leaders opt for progress over provocation.

ABC Reports: GDP Shows Increasing Positivity for Nonresidential Construction

CEU2-1“The improving confidence of consumers, business owners, and real estate developers, among others, suggests that additional momentum is likely, ” —ABC Chief Economist Anirban Basu.

GDP_Q3_2014-1Nonresidential fixed investment grew 5.5 percent in the third quarter after expanding 9.7 percent in the second quarter, according to the Bureau of Economic Analysis’ Oct. 30 gross domestic product (GDP) report. It has now expanded by greater than 5 percent in four of the past five quarters. In addition, investment in equipment increased 7.2 percent, while investment in nonresidential structures increased 3.8 percent.

Real gross domestic product (GDP) expanded 3.5 percent (seasonally adjusted annual rate) during the third quarter, following a 4.6 increase in the second quarter.

“It has been rare for the U.S. economy to record two consecutive good quarters since the recovery began in mid-2009,” said Associated Builders and Contractors Chief Economist Anirban Basu. “The dominant pattern has been one of a good quarter followed by a bad quarter. This lack of consistent momentum has also been seen with construction spending growth and in other leading indicators, such as the Architecture Billings Index and ABC’s own Construction Backlog Indicator.”

“However, the improving confidence of consumers, business owners, and real estate developers, among others, suggests that additional momentum is likely,” Basu said. As an example, the Consumer Confidence Index attained a seven-year high in October. The implication is that nonresidential construction spending should continue to recover, with growth continuing to be concentrated in privately financed segments.”

The following segments expanded during the third quarter and/or contributed to GDP.

  • Personal consumption expenditures added 1.2 percent to GDP after contributing 1.8 percent in the second quarter.
  • Spending on goods grew 11 percent after expanding 14.3 percent in the prior quarter.
  • Real final sales of domestically produced output, minus changes in private inventories, increased 4.2 percent after a 3.2 percent increase in the second quarter.
  • Federal government spending expanded by 10 percent following a 0.9 percent decrease in the prior quarter.
  • Nondefense spending expanded 0.5 percent after decreasing by 3.8 percent in the second quarter.
  • National defense spending expanded 16 percent after inching up 0.9 percent in the previous quarter.
  • State and local government spending expanded 1.3 percent during the third quarter after growing 3.4 percent in the second quarter.

To view the previous GDP report, click here.

November 4, 2014 marks the 45th Anniversary of Philippi-Hagenbuch, Inc., Happy Anniversary

I received the following in an e-mail today and it brought a flood of memories. I learned more about haul trucks, haul roads and the importance of haul road maintenance from “Phil” and LeRoy than you can imagine. Most of this information ended up as articles in a now long-gone magazine Equipment Management (EM) of which I was editor. It’s hard to believe that PHIL was started 45 years ago…

Congratulations to an innovator and a survivor. I hope the next 45 years are as interesting and exciting as the were.

181Dear Greg Sitek:

November 4, 2014 marks the 45th Anniversary of Philippi-Hagenbuch, Inc. which was co-founded by L.B. “Phil” Philippi (Pat Hagenbuch’s Father) and LeRoy Hagenbuch, P.E. Since its founding, PHIL has grown into an international company focussing on innovations for haulage equipment that has a wide reach, yet retains its modest, family owned footprint here in Peoria, Illinois.

It all started with two shoe boxes that led to the first prototype of what would become our Autogate(R) Tailgate; a need was presented and a dream was born. Forty-five years, over a hundred patents, thousands of tailgates and hundreds of sideboards, truck bodies, water tanks, trailers and other specialty haulage equipment later and PHIL is going strong. From PHIL’s humble beginnings in the basement of the Philippi house on Millbrook Road to our current 50-acre campus, PHIL has grown from servicing Quarries to a diversified group of stable industries made up by the Aggregates, Mining, Steel Mill, Landfill, Power Plant, Oil Refinery, Heavy Duty Agriculture and Forestry markets.

Today, PHIL is led by the third generation of the Philippi and Hagenbuch families, ushering in new technologies, business practices, and products in an effort to further establish PHIL in the industries we serve through the dedication of our highly motivated tight-knit group of associates.

None of this would be possible without the support of our amazing clients, vendors, industry partners, licensees and the support of off-highway truck OEM’s. Thank you for helping us build such a legacy!

To commemorate this anniversary, the Associates of PHIL are putting together a milestone memory book. If you would like to share a story, picture of your PHIL product or a note of congratulations that will be included in the book, please click here.
Regards,
Josh Swank
Josh Swank
Vice President of Sales & Marketing
Philippi-Hagenbuch, Inc.

ABC Reports: Nonresidential Construction Spending Slips for Second Consecutive Month

CEU2“September’s drop in nonresidential construction spending is disappointing given the growing momentum in the broader economy and the generally positive signals being sent by industry-specific leading economic indicators.”—ABC Chief Economist Anirban Basu.

Construction Spending Nov 2014Nonresidential construction spending slipped 1 percent in September but has still managed to expand 4.2 percent on a year-over-year basis, according to the Nov. 1 release from the U.S. Census Bureau. Spending for the month totaled $596.1 billion on a seasonally adjusted, annualized basis while the government slightly revised the August spending figure from $603.7 billion to $601.9 billion.

“September’s drop in nonresidential construction spending is disappointing given the growing momentum in the broader economy and the generally positive signals being sent by industry-specific leading economic indicators,” said Associated Builders and Contractors (ABC) Chief Economist Anirban Basu. “Based on a combination of these leading indicators—including ABC’s own Construction Backlog Indicator and the Architecture Billings Index—and the anticipated performance of the U.S. economy, nonresidential construction spending should re-establish an upward trajectory on a seasonally adjusted basis going forward.

“With national job creation accelerating recently and interest rates remaining ultra low, one would expect private construction to perform well during the quarters ahead, while growth in publicly funded spending will be much softer,” said Basu. “The industry should be further buoyed by the economy’s two consecutive quarters of respectable economic growth, something the U.S. economy has rarely achieved during the current recovery.”

Only five of 16 nonresidential construction subsectors posted increases in spending in September on a monthly basis.

  • Office-related construction spending grew 2.4 percent in September and is up 15.7 percent from the same time one year ago.
  • Lodging construction spending is up 4.7 percent on a monthly basis and is up 14.7 percent on a year-over-year basis.
  • Conservation and development-related construction spending grew 4.1 percent for the month and is up 31.7 percent on a yearly basis.
  • Commercial construction spending gained 1.3 percent for the month and has grown 12.3 percent on a year-over-year basis.
  • Spending in the water supply category expanded 1.1 percent on a monthly basis, but is down 1.6 percent for the year.

Spending in 11 nonresidential construction subsectors declined in September.

  • Amusement and recreation-related construction spending lost 0.8 percent in September, but is up 0.6 percent from the same time last year.
  • Manufacturing-related spending fell 1.3 percent on a monthly basis, but is up 16.4 percent on a year-over-year basis.
  • Communication construction spending declined 0.7 percent for the month and is down 12.8 percent from the same time last year.
  • Religious spending fell 3.1 percent for the month, but is up 2.6 percent from the same time last year.
  • Sewage and waste disposal-related construction spending declined 2.4 percent for the month, but has expanded 1.1 percent on a 12-month basis.
  • Health care-related construction spending fell 0.9 percent for the month and is down 7.5 percent on a yearly basis.
  • Education-related construction spending fell 0.1 percent for the month, but is up 7.1 percent on a year-over-year basis.
  • Construction spending in the transportation category fell 1.1 percent on a monthly basis, but has expanded by 1.2 percent on an annual basis.
  • Highway and street-related construction spending fell 3.6 percent in September and is down 1.7 percent compared to the same time last year.
  • Public safety-related construction spending lost 2.3 percent on a monthly basis and is down 11.1 percent on a year-over-year basis.
  • Power construction spending fell 3.1 percent for the month, but is 2 percent higher than at the same time one year ago.

To view the previous spending report, click here.

Wells Fargo Reports: New Home Sales Unexpectedly Eke Out a Modest Gain

Wells_Fargo_Securities_logo Following August’s outsized gain, new home sales rose a modest 0.2 percent in September to a 467,000-unit pace. However, sales in the previous three months were downwardly revised. Inventories remain low. New Home Sales Post Upside Surprise

 New home sales rose 0.2 percent in September, marking the second-straight monthly gain. Although the level is largely unchanged over the past two months, downward revisions to data in the previous three months dampens the excitement over the upward surprise. In fact, July data was revised from an increase to a decline of 1.2 percent. Revisions on a regional basis show much of the pullback was in the West and South.

Mixed Messages in New Home Sales Activity

 Median and average prices for a new home dropped during the month. Over the past year, the median price of a home fell 4.0 percent, while the average price was down 2.6 percent.

 The NAHB/Wells Fargo Housing Market Index fell 5 points to 54 in October after rising in four consecutive months. Although all three components of the index declined, current sales and prospective buyer traffic made the largest dent.

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