FDOT Construction Leading Indicators Report - DEC 09r.xlsx

Document Sample
FDOT Construction Leading Indicators Report - DEC 09r.xlsx Powered By Docstoc
					                        Florida Department of Transportation
                    Highway Construction Leading Indicator Report

Highway and Street Construction PPI has ticked up for two months
but has remained relatively stable for seven months. Diesel fuel
prices inched down and construction employment inched up. Both
home sales and permit values showed small positive moves.
Collectively the indicators continue to suggest a bottom may have
been found in construction costs and activity levels.


    National Cost Indicators - The producer price index for Highway and Street
    Construction increased by 0.2% from November to December 2009. Diesel
    price dropped by 1.7%.

    Residential Construction and Sales Activity - Florida permit activity in
    December 2009 increased by 14.6% from November 2009. Florida sales
    increased by 8.9% in December 2009 from November 2009. This increase
    follows the decrease of 8% in sales in November 2009 compared to October
    2009.

    Labor Statistics - Florida's unemployment rate for December 2009 was
    11.8%. Florida's total construction employment saw a slight increase of 0.2%
    from November 2009 and its heavy and civil construction employment
    increased by 2.2% from November 2009.

    National Economic Indicators - The Purchasing Managers Index (PMI) for
    manufacturing activities increased by 4.3 % to 55.9% from November's
    value of 53.6%.
    Note: A PMI value of greater than 50% indicates that US manufacturing is expanding, while anything below
    50% means that the industry is contracting.



                                              Page 1 of 4 Pages                                                January 29, 2010
                                           Florida Department of Transportation
                                       Highway Construction Leading Indicator Report

                                                                                 Change from Average Value
                                                   December      Change from     Same Month this Calendar 3 Month
         INDICATOR DESCRIPTION                     2009 Value   Last Month (%)   Last Year (%) Year to Date Trend       Note

National Cost Indicators
   PPI Highway & Street Construction                 209.4          0.2%            3.9%        205.2                See Graph

   Diesel # 2 Price Per Gallon (Monthly Average)     $2.74          -1.7%           12.0%       $2.46                See Graph

Residential Construction and Sales Activity

   FL Residential Building Permits                   3,495          16.4%           10.0%       3,010               See Graph ($)

   US Residential Building Permits                  47,379          16.3%          19.0%        47,127

   FL Realtor Home & Condo Sales                     20,598         8.9%            45.6%       18,181

   FL Single Family Home Median Price              $140,400         1.0%            -9.6%      $142,525

   FL Condo Median Price                           $107,000         2.5%           -17.9%      $108,267

Labor Statistics

   Florida Unemployment Rate                         11.8%          2.6%            55.3%       10.5%

                                                     10.0%          0.0%            38.9%        9.3%
   US Unemployment Rate

   FL Total Construction Employment                 407,400         0.2%           -12.8%      427,600

   FL Heavy Civil Construction Employment            51,700         2.2%           -17.1%       55,842               See Graph

National Economic Drivers/Indicators

   US Federal Funds Rate                             0.25%          0.0%            0.0%        0.25%

   ISM PMI                                           55.9%          4.3%            72.5%       46.3%


                                                        Page 2 of 4 Pages                                            January 29, 2010
                                                                                        Florida Department of Transportation
                                                                                    Highway Construction Leading Indicator Report



                                             PPI for Highway and Street Construction                                                              Value of Residential Building Permits Issued in Florida
Highway and Stre
     250
                                                       58
                                                                                                                                            5.0
                                240                                                                               and
                                  October 2009 Va National Cost Indicators - The producer price index for Highway 4.5 Street Construction decreased by
                                230
                                220            Residential Construction and Sales Activity - Florida permit activity in December 2009 increased by 14.6% from November 2009. Florida
                                                                                                              4.0
                                                                                                                                                    3634
  Producer Price Index Value




                                210




                                                                                                               Monthly Value ($Billions)
                                               Labor Statistics - Florida's unemployment rate for December 2009 was 11.8%. Florida's total construction employment saw a slight increa
                                                                                                              3.5
                                200
                                190                                                                                                         3.0
                                180
                                                                                                                                            2.5
                                170
                                160                                                                                                         2.0
                                150
                                                                                                                                            1.5
                                140
                                130                                                                                                         1.0
                                120
                                                                                                                                            0.5
                                110
                                100                                                                                                         0.0




                                                 US Average Price of Diesel No. 2                                                                          Florida Heavy Construction Employment


                               $5.00                                                                                                       85.0

                               $4.50                                                                                                       80.0

                               $4.00
                                                                                                                Size of Workforce (000s)
                                                                                                                                           75.0
 Price per Gallon ($)




                               $3.50
                                                                                                                                           70.0
                               $3.00
                                                                                                                                           65.0
                               $2.50
                                                                                                                                           60.0
                               $2.00

                               $1.50                                                                                                       55.0

                               $1.00                                                                                                       50.0




                                                                                                    Page 3 of 4 Pages                                                                                       January 29, 2010
                                                        Florida Department of Transportation
                                                    Highway Construction Leading Indicator Report


                                                December         Change From Last Month   Change From Same Month   Change in Year to Date
     INDICATOR DESCRIPTION                      2009 Value                 (%)                 Last Year (%)        Cumulative Value (%)    3 Month Trend
National
   New Residential Units Permitted                 47,379                16.3%                    19.0%                   -35.9%
Statewide
   New Residential Units Permitted                  3,495                16.4%                    10.0%                   -42.3%
   Single Family Home Sales                        14,630                4.3%                     32.8%                    32.1%
   Single Family Home Median Sales Price          $140,400               1.0%                     -9.6%                     n/a
District 1
   New Residential Units Permitted                  627                  110.4%                   95.3%                   -38.6%
   Single Family Home Sales                         2,959                2.3%                     39.4%                    49.6%
   Single Family Home Median Sales Price          $109,550               5.5%                     -7.0%                     n/a
District 2
   New Residential Units Permitted                  350                  14.4%                     8.4%                   -33.5%
   Single Family Home Sales                         1,277                5.7%                     26.6%                    19.7%
   Single Family Home Median Sales Price          $151,750               -4.0%                    -12.6%                    n/a
District 3
   New Residential Units Permitted                  196                  40.0%                    -2.0%                   -47.5%
   Single Family Home Sales                         718                  -13.2%                   11.3%                    2.0%
   Single Family Home Median Sales Price          $175,550               4.6%                      2.5%                     n/a
District 4 (and 6)
   New Residential Units Permitted                  313                  2.0%                     -61.4%                  -55.6%
   Single Family Home Sales                         2,194                9.3%                     29.7%                    34.0%
   Single Family Home Median Sales Price          $212,900               16.9%                    -2.2%                     n/a
District 5
   New Residential Units Permitted                  569                  13.1%                    -8.4%                   -54.6%
   Single Family Home Sales                         3,893                5.0%                     45.6%                    34.9%
   Single Family Home Median Sales Price          $114,250               -3.0%                    -14.3%                    n/a
District 6
   New Residential Units Permitted              included in 4             n/a                      n/a                      n/a                  n/a
   Single Family Home Sales                         623                  36.9%                    44.5%                    52.7%
   Single Family Home Median Sales Price          $204,300               10.6%                    -5.2%                     n/a
District 7
   New Residential Units Permitted                  1,054                -1.9%                    86.9%                   -22.6%
   Single Family Home Sales                         2,123                -7.0%                    14.3%                    23.9%
   Single Family Home Median Sales Price          $140,000               0.6%                     -3.9%                     n/a
   Note: District permit data does not include non-metro area permits.


                                                                           Page 4 of 4 Pages                                                      January 29, 2010

				
DOCUMENT INFO
Shared By:
Categories:
Stats:
views:8
posted:2/24/2010
language:English
pages:4