Every two weeks, Oldcastle Building Solutions Business Intelligence prepares a report focused on understanding and analyzing construction market data and trends.
This in-depth report is developed primarily for internal distribution, but Oldcastle Building Solutions exists to inform construction professionals like you, so we're making this report available for anyone who's interested in reading it.
What's New In This Report?
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HighlightsThe advance estimate for Q2 2016 GDP was 1.2% above the 0.8% growth in Q1 US omeownership rate in Q2 2016 dropped again to 62.9% |
Construction UpdateConstruction Put-in-Place 0.3% annual increase to $1.133M New single-family sales: 592K houses up 25.4% from June 2015 estimate |
Economic UpdateUnemployment stayed at 4.9% with 255,000 non-farm jobs added 42 of 51 large MSAs show 12-month unemployment decreases |
Key Takeaways
- The first advance estimate for GDP growth in Q2 2016 was 1.2%, stronger than Q1 2016 growth of 0.8% (revised)
- In Q2 2016, the U.S. Homeownership rate was reduced again to 62.9%, continuing its long-term downward trend since a peak in 2004
- Construction Put-in-Place was $1,133M in June 2016, 0.3% above June 2015
- 592K new single-family houses were sold in June 2016, 25.4% above the June 2015 estimate
- In July 2016, unemployment stayed at 4.9%, with 255K non-farm jobs added
- 42 of the 51 large MSAs (1M+ population) showed year-over-year unemployment rate decreases in June 2016, with Austin-Round Rock having the lowest rate (3.3%)
