Construction spending fell slightly in February

first_img Message* Bad weather was a factor in February’s decrease in construction spending. (Getty)Thanks to bad weather and pricier materials, construction spending fell slightly last month — though it’s still higher than it was last year.National construction spending dropped 0.8 percent to a seasonally adjusted estimated rate of $1.516 trillion in February, according to the Census Bureau’s monthly report. In January, spending hit a record rate of $1.528 trillionWinter storms in Texas, which slowed down construction projects, were partly to blame, along with soaring costs and the decline in nonresidential projects, according to the Associated General Contractors of America.“Contractors are having a hard time finding work, and when they do, they are getting squeezed by rapidly rising materials prices,” said Stephen Sandherr, the organization’s CEO. “New infrastructure investments will certainly help with demand, but the industry also needs Washington to help address supply-chain problems and rising costs.”ADVERTISEMENTRead moreHome sales drop in February as inventory remains at all-time lowUS home price growth hits 15-year highPending home sales fall for fifth consecutive month Full Name* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Tags Email Address* Despite February’s decline, construction spending is still higher than it was a year ago. Total spending was up 5.3 percent year-over-year.Residential construction spending — both private and public — was up 21 percent compared to February 2020. That’s important, considering housing inventory remains at historically low levels — and economists say the lack of available homes on the market is beginning to eat into sales. Low inventory, combined with seemingly unstoppable demand from buyers, is also pushing home prices ever-higher.Contact Erin Hudson Share via Shortlink Commercial Real EstateConstructionResidential Real Estatelast_img read more

Professors earn NEH fellowships

first_imgThe National Endowment for the Humanities (NEH) has awarded fellowships to three Notre Dame professors. Stephen Dumont, Deborah Tor, and Sandra Gustafson received grants from NEH to work on personal research projects. Professor Stephen Dumont said the grant will provide for a year’s sabbatical from teaching, so honorees can dedicate time to their projects. “In the everyday life of teaching and administration it’s difficult to find a block of time to dedicate to research,” he said. “The opportunity to carry out extensive research and writing is, of course, vital to the intellectual life of faculty and students alike.” Dumont said fellows are expected to advance their initial proposals, ideally by publishing work completed on the topic. “The goal of the project is to either complete or substantially make progress on a book or perhaps publish several papers on a topic,” Dumont said. The NEH website said the organization supports the humanities in order to “convey the lessons of history to all Americans” and to “strengthen our republic.” The Endowment bestows its grants upon the researchers with the proposals rated highest by external reviewers. History professor Deborah Tor said receiving the fellowship allows for research time, but receiving the grant is itself an honor. “It is gratifying as a scholarly validation, it is nice to know that one’s peers on the review panel think highly of one’s work,” Tor said, “especially since this was the only fellowship awarded by the NEH in my field, medieval Islamic history.” Tor’s project will focus on the Great Seljuq Dynasty, which she says is “one of the most pivotal but under-researched [dynasties] in medieval Islamic history.” “The Seljuqs were the first of several successive waves of Central Asian nomadic confederations to invade and conquer the central Islamic lands, inaugurating a thousand years of foreign Turco-Mongol rule. They were also the first potentates since the political disintegration of the original unitary Caliphate to rule over the entire Middle East, and they instituted or presided over many fundamental transformations in Islamic civilization.” Dumont said his project is on the concept of free will, and the finished product will be a book. “It will be a historical and philosophical investigation on the origins and meaning of free will,” Dumont said. However, Tor said she also believes a good application is enhanced by earlier accomplishments. “The panel obviously takes into account one’s previous achievements, reputation, and prior publications. So, I guess the panel members appreciated my first monograph and my articles,” Tor said.last_img read more

Ghana U20 star Salifu relishing Club Africain challenge

first_imgGhana midfielder Seidu Salifu says he is ready for the challenge ahead after his switch to Tunisian giants Club Africain.The former Wa All Stars player completed his move after signing a four year deal in an undisclosed fee.The 19 year old was linked to so many European clubs following his impressive performance at this year’s FIFA U20 World Cup where Ghana finished third in Turkey.According to Seidu Salifu he is happy with the move and is keen on impressing his new coach Adrie Koster.“I feel very happy and great for this move to Club Africain which is a big club in Africa,” said Salifu in an exclusive interview with Joy sports“I’m always ready for the challenge and as a player you should always do your best wherever you find yourself. “I have to adapt to their style of play gradually and I believe I can fit in the team.last_img read more