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November 2014

New Residential Construction

Building permits in October 2014 were at a seasonally adjusted annual rate (SAAR) of 1,080,000, up 4.8 percent from the revised September rate and up 1.2 percent from October 2013.

Housing starts in October 2014 were at a SAAR of 1,009,000, down 2.8 percent from September and up 7.8 percent from October 2013.

Businesses Commit to Alleviate Their Suppliers’ Capital Costs

A recently released Department of Commerce report, “The Economic Benefits of Reducing Supplier Working Capital Costs,” highlighted how much the viability of our nation’s supply chain depends on large firms paying on time. Our small manufacturing firms—which account for more than 1/3 of manufacturing shipments and close to half of employment—face elevated capital costs, relative to large firms, because of lack of access to loans and higher interest rates. Large firms exacerbated these constraints through the Great Recession when they delayed payment for the good they ordered.

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