View the full cat chart at Wikinvest

Cat Stock Blog

Caterpillar Inc. (NYSE:CAT) stock news and links


Slight uptick in construction spending in October

Reuters reports that while the construction outlook in December was butt-ugly, it wasn’t quite as bad as it was in November.

The Architecture Billings Index rose to 36.4 in December, from 34.7 in November, according to the American Institute of Architects. Any reading below 50 indicates a decline in billings.

All the industry sectors tracked by the group remained below 50, as did all four of the geographic regions. A measure of inquiries for new projects fell to 37.7, a historic low.

“The inability to get financing for construction projects is a key reason that business conditions continue to be so poor at design firms,” AIA chief economist Kermit Baker said in a statement.

Note that while the plunge in mortgage rates caused a tidal wave of applications, I’m told over half of them are being rejected.

As yesterday’s sell-off demonstrated, the credit crises has not gone away.

no comments | Permalink | Tags:
Tom Mangan posted at 6:47 am January 21st, 2009 |

Leave a Reply