Growth in U.S. construction markets could be dampened by Congressional drama that erodes consumer confidence and hinders recovery, according to the latest forecast from the Portland Cement Association (PCA).
Read MoreMonth: December 2013
Deere Reports Record Earnings
Deere and Co. announced record earnings of $3.54 billion after income rose 17 percent, and earnings per share rose 21 percent in the fourth quarter. And while construction equipment sales decreased 8 percent for the quarter and full year, the company expects construction equipment revenues to increase 10 percent in 2014.
Read MoreConstruction Spending Rises in October
The U.S. Census Bureau of the Department of Commerce announced that construction spending during October 2013 was estimated at a seasonally adjusted annual rate of $908.4 billion, 0.8 percent (±1.8 percent) above the September estimate of $901.2 billion. The October figure is 5.3 percent (±2.1 percent) above the October 2012 estimate of $863.1 billion.
Read MoreNonresidential Construction Index Drops
December 2, 2013 – FMI’s 2013 Fourth Quarter Nonresidential Construction Index (NRCI) shows a 2.9 point drop in to 57.4. However, the score is still ahead of fourth quarter 2012 by 1.9 points. An NRCI of more than 50 indicates growth therefore the fourth quarter score still indicates modest improvement in the industry.
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