Ken Simonson

‘Stimulus’ passes but construction funds are tight.

Nonresidential is flat in latest month, but up for year.

One contributor to rising construction costs is diesel fuel.

Nonresidential jobs appear to flatten but spending soars.

The U.S. population rate was little changed from 2006, but several fast-growing states slowed.

“The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 4-1/4%,” the Federal Reserve has reported.

Construction spending in October, at a seasonally adjusted annual rate of $1.158 trillion, fell 0.8 percent from September and 0.6 percent from October 2006, according to the Census Bureau.

Reports from the 12 Federal Reserve Districts suggest that the national economy continued to expand during the survey period of October through mid-November but at a reduced pace compared with the previous survey period.

PPIs and state jobs news were mixed.

New construction starts turned down in October, as tabulated today by Reed Construction Data.