March 25, 2009
By the Numbers
U.S. GDP declines as economy sputters along
The U.S. economy is contracting at a much faster pace than the government previously thought, which may reduce the chances of a recovery this year.
Real gross domestic product in the U.S. was initially predicted in January to have declined at an annual rate of 3.8 per cent in the fourth quarter of 2008 compared to the third quarter.
This figure was revised last month by the U.S. Department of Commerce to a decrease of 6.2 per cent. The revised estimates are based on more data than were available earlier. The global recession contributed to a decline in exports as well as lower retail sales and a reduced customer spending. The fourth quarter decline represents the steepest drop off since the 1982 recession.
JOC News Service
| MOST POPULAR STORIES |
- Olympic construction goes down to the wire
- Two more Fort McMurray projects moving forward
- Nexen, OPTI Canada get approval for cogeneration power plant near Fort McMurray
- 5,000-room modular lodging project taking shape near Fort McMurray, Alberta
- Public-private partnerships working as intended, new report finds
- 20 Most Popular Stories
| TODAY’S TOP CONSTRUCTION PROJECTS |
These projects have been selected from 350 projects with a total value of $6,260,468,758 that Reed Construction Data Building Reports reported on yesterday.
$1,000,000,000 Peace River RD BC Prebid
$500,000,000 Saanich BC Prebid
$500,000,000 Victoria BC Prebid
| CURRENT STORIES |
- New deal allows Canadian construction firms to bid on U.S. stimulus projects
- Construction continues on Canadian Natural Resource office in St. Albert, Alberta
- Canadian Construction Association summit zeroes in on industry concerns
- Art Gallery of Alberta addition showcases steel
- 5,000-room modular lodging project taking shape near Fort McMurray, Alberta
- Five-year forecast looking up for British Columbia construction industry
- Saskatchewan gets new natural gas trades training centre
- B.C. permit numbers rise while Alberta’s fall
- Trades lack LEED understanding
- Nexen, OPTI Canada get approval for cogeneration power plant near Fort McMurray
- Aecon wins $22 million in contracts for steam generators
- SNC-Lavalin partners with Russian bank to form engineering company
- Work continues on Pearl Condos in Toronto
- ‘A good first step forward,’ Canadian construction industry says of agreement
- Government should be more flexible with stimulus project deadline, outgoing ORBA president says
- Steel provides structure for historic hotel revival in Port Hope, Ontario
- Ontario businesses scramble to ready for arrival of HST
- Construction continues on Atira Women’s Resource Society housing project in Vancouver
- Five still unaccounted for after Connecticut power plant explosion
- U.S. manufacturing employment up, but construction losses continue
- Peterborough Utilities unveils plan for 10-megawatt wind farm
- China orders local governments to pay workers on private sites
| ALEX’S ECONOMICS BLOG |
Reed Construction Data Chief Economist Alex Carrick discusses current developments in the North American economic environment with emphasis on the construction industry.
- A review of some global economic and policy expectations for 2010 (February 3, 2010)
- Synopsis of RCD’s webinar on the economic and construction outlooks (January 28, 2010)
- Increasing signs of world and U.S. economies getting back on track (January 28, 2010)
- More
| PROJECT NEWS BRIEFS |
Updates on Canadian construction projects from Reed Construction Data’s research team. More
- Rounthwaite Dick & Hadley Architects begin work on arena plans for Flamborough, Ontario (Aug 17, 2009)
- Orillia Market Square aims for LEED Silver certification (Jun 25, 2009)
- Designs for new York Region District School Board building features energy efficiency (Jun 23, 2009)
- IPC Energy considers Milford location for future wind farm (May 22, 2009)
- Waterloo partnership seeks LEED Silver for West Side Family YMCA and District Library (May 22, 2009)
