3/3/2015
By Charles Payne, CEO & Principal Analyst

After climbing to $961.4 billion in 2014, there was much hope that this year would see construction spending back above $1.0 trillion; January came in at an annual pace of $971 billion up 1.8%.

There are certain trends, such as the boom in apartments and condominiums, but total spending on single-family homes also presents an economic opportunity. 

In non-residential construction, there is a narrative that business is bulking for domestic growth and local spending at hotels and amusement parks. Manufacturing came in better than we expected and it hints at potential jobs and wage growth.

• Commercial
• Auto Showrooms +30.5%
• Restaurants +30.1%
• Shopping Centers +14.1%
• Building Supplies +90.8%
• Warehouses +52.8%

Each day, we are greeted with more news about delayed or abandoned energy projects; which means we get less great-paying jobs. On the other hand, private education points to a slowing demand for college and religious spending which continues to suffer since the start of the Great Recession.

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Charles Payne
Wall Street Strategies

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