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 |
- Infrastructure gets funding increase in B.C. Budget 2010
- International Living Building Institute launches new challenge
- Budget includes $7.7 billion in infrastructure stimulus funding
- Terrane Metals Corp. set to start construction on mine near Fort St. James, British Columbia
- In wake of toddler death, committee will study Calgary construction safety
- 20 Most Popular Stories
| TODAY’S TOP CONSTRUCTION PROJECTS |
These projects have been selected from 355 projects with a total value of $1,340,902,487 that Reed Construction Data Building Reports reported on yesterday.
$100,000,000 Calgary AB Prebid
$80,000,000 Wood Buffalo AB Prebid
CONDOMINIUM APARTMENTS, TOWNHOUSES
$55,000,000 Delta BC CANCELLED/ DEFERRED
| CURRENT STORIES |
- Scott Construction continues work on research centre at Vancouver General Hospital
- Independent contractors association criticizes Burnaby’s fair wage policy
- Eastern, central focus of federal budget a concern to industry
- Industry welcomes federal government’s commitment to labour-market tracking
- International Living Building Institute launches new challenge
- International snowplow championship packs ‘em in
- Study supports domed stadium for Saskatchewan Roughriders in Regina
- U.S. construction spending drops by $5.5 billion
- Canada BIM Council nears information exchange agreement with U.S. counterpart
- SNC Lavalin awarded Saskatchewan carbon capture project
- Dominion Construction gets two B.C. contracts
- Show us the infrastructure money, Sewer and Watermain Contractors Association says
- Construction nearing completion on The Avenue condos in Toronto
- Ontario architects, general contractor associations issue joint HST bulletin
- Ground broken on the Cathederal Centre in Toronto
- Ontario General Contractors Association applauds plan for WSIB advisory committee
- WSIB report a clear response to ideas we submitted, Ontario General Contractors Association chief says
- Plant Engineering and Maintenance Association establishes Fort McMurray chapter
- ‘You don’t create job opportunities by cutting off business:’ Canadian Manufacturers & Exporters CEO
- Atco Structures acquires Woodgreen Homes & Trailer Sales
- Haiti, Chile earthquakes highlight risks of construction along fault lines
- Medieval shipwrecks discovered during Baltic Sea pipeline construction
- Toronto Community Housing unveils plan for Lawrence Heights renewal
- Contracts awarded for clean-up of Sydney tar ponds, coke ovens
- Shoddy home construction blamed for Turkey earthquake toll
| 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 dozen incredible measurement sets on Canada’s changing ethnic mix (March 9, 2010)
- How fragile is recovery around the world? (March 3, 2010)
- The world financial crisis goes into extra innings (February 25, 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)
