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February 2015

Construction Put in Place

Construction spending in December 2014 was $982.1 billion at a seasonally adjusted annual rate, up 0.4 percent from the revised November 2014 estimate and up 2.2 percent from December 2013. For the full year 2014, construction spending was $961.4 billion, up 5.4 percent from 2013.

Manufacturer's Shipments, Inventories, and Orders

December 2014 new orders for manufactured goods decreased 3.4 percent, to $471.5 billion. Excluding transportation, new orders fell 2.3 percent. Shipments fell 1.1 percent, to $488.2 billion. Unfilled orders decreased 0.8 percent to $1,166.9 billion. And inventories fell 0.3 percent, to $653.9 billion.

For the full year 2014, new orders for manufactured goods rose 2.8 percent from 2013.

U.S. International Trade in Goods and Services

The December 2014 international trade deficit increased 17.1 percent from November, to $46.6 billion. Exports decreased 0.8 percent to $194.9 billion, and imports increased 2.2 percent to $241.4 billion.

For the full year 2014, the trade deficit grew 6 percent to $505b. Exports rose 2.9 percent, to $2.3 trillion, and imports increased 3.4 percent, to $2.9 trillion.

U.S. Exports Hit New Annual Record, Reaching $2.35 Trillion in 2014

American Businesses Drive Record Goods Exports to 52 Countries

WASHINGTON — U.S. Secretary of Commerce Penny Pritzker today announced that U.S. exports in 2014 set a record for the fifth consecutive year, reaching $2.35 trillion. International Trade in U.S. Goods and Services data released today by the U.S. Department of Commerce show that U.S. exports are up more than $760 billion since 2009.

Monthly Wholesale Trade: Sales and Inventories

December 2014 wholesale inventories were $547.6 billion, up 0.1 percent from the revised November level and up 6.7 percent from December 2013. Sales were $449.8 billion, down 0.4 percent from the revised November level but up 1.4 percent from December 2013.

Advance Monthly Sales for Retail and Food Services

January 2015 retail and food services sales were $439.8 billion, a decrease of 0.8 percent from December 2014 but up 3.3 percent from January 2014. Excluding automobiles, retail and food services sales in January 2014 were $349.4 billion, down 0.9 percent from the prior month but up 1.7 percent from one year earlier.

Manufacturing and Trade: Inventories and Sales

December 2014 business inventories were $1,764.4 billion, up 0.1 percent from November and up 3.9 percent from December 2013.  Sales were $1,331.2 billion, down 0.9 percent from the previous month but up 0.9 percent from one year earlier.

New Residential Construction

Building permits in January 2015 were at a seasonally adjusted annual rate (SAAR) of 1,053,000, down 0.7 percent from the revised December rate but up 8.1 percent from January 2014.

Housing starts in January 2015 were at a SAAR of 1,065,000, down 2.0 percent from December but up 18.7 percent from January 2014.

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