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Richmond Fed's Survey of Manufacturing Activity slips in May

Manufacturers in the Fifth District were somewhat less upbeat in May than in the prior three months, according to the latest survey by the Federal Reserve Bank of Richmond. The index for shipments and the index for new orders decreased notably, with the shipments index falling to slightly below 0. Show More Summary

Flash U.S. Composite Output Index rebounds modestly in May

The seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index revealed a modest rebound in private sector business activity growth in May.At 53.9, up from 53.2 in April, the headline index pointed to the strongest upturn in U.S. Show More Summary

April new home sales dipped 11.4 percent from March's 10-year high but still slightly above year-ago levels

New Home SalesSales of new single-family houses in April 2017 were at a seasonally adjusted annual rate of 569,000. This is 11.4 percent below the revised March rate of 642,000, but is 0.5 percent above the April 2016 estimate of 566,000.Sales PriceThe median sales price of new houses sold in April 2017 was $309,200. Show More Summary

Philadelphia Fed Manufacturing Business Outlook Survey rebounded sharply in May

Results from the May Manufacturing Business Outlook Survey suggest that regional manufacturing activity continued to expand this month, rising from 22.0 to 38.8 Although most of the survey's future indicators fell this month, the readings suggest that most firms still expect growth to continue over the next six months. www.metrointel.com

Chicago Fed National Activity Index rose to 0.49 in April, highest since 2014

Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) rose to +0.49 in April from +0.07 in March. Two of the four broad categories of indicators that make up the index increased from March, and only one category made a negative contribution to the index in April. Show More Summary

Cards of the Moment

A+T – publisher of books and magazines on public spaces, work places, renovations, and collective housing – has just released 50 Urban Blocks, a "set of cards containing 50 examples of how to design an urban block."Unlike previous titles from a+t, the deck of cards are hypothetical designs rather than specific case studies. Show More Summary

El Helicoide

Head over to World-Architects to read my recap of the small but illuminating El Helicoide: From Mall to Prison exhibition at the Center for Architecture. The show focuses on the El Helicoide building in Caracas, which was built as aShow More Summary

Storefront's ARTIFACTS

On Tuesday, May 23, the Storefront for Art and Architecture is holding its spring benefit, ARTIFACT, at Federal Hall in Lower Manhattan. Storefront will be honoring Denise Scott Brown and Murray Moss, and will be launching New Artifacts, specially commissioned pieces by Adam McEwen, LOT-EK, and Murray Moss with Lobmeyr. Show More Summary

Descension

Anish Kapoor's Descension is on display at Brooklyn Bridge Park's Pier 1 until September 10th. I visited yesterday and made a short video of it (turn up the volume for best effect):

Today's archidose #964

Here are some of my photos of Pierhouse and 1 Hotel Brooklyn Bridge by Marvel Architects. To contribute your Flickr images for consideration, just::: Join and add photos to the archidose poolTo contribute your Instagram images for consideration, just::: Tag your photos #archidose

Initial unemployment claims fall 4,000 in latest report

In the week ending May 13, initial unemployment claims were 232,000, a decrease of 4,000 from the previous week's unrevised level of 236,000.The 4-week moving average was 240,750, a decrease of 2,750 from the previous week's unrevised average of 243,500. www.metrointel.com

Mortgage applications fall 4.1 percent in latest survey, rates remain flat

The Market Composite Index decreased 4.1 percent on a seasonally adjusted basis from one week earlier, with purchase loans falling 3 percent and refinances dipping 4 percent.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances remained unchanged at 4.23 percent. www.metrointel.com

Leading Economic Index rose again in April

The Leading Economic Index for the U.S. increased 0.3 percent in April to 126.9 (2010 = 100), following a 0.3 percent increase in March, and a 0.5 percent increase in February.While the majority of leading indicators have been contributing...Show More Summary

Reminder: '100 Years, 100 Buildings' Book Talk

On Tuesday, May 23 I'll be giving a book talk at the Skyscraper Museum in Lower Manhattan. The event takes places from 6:30pm to 8pm and is free. Head to the Skyscraper Museum website to reserve a ticket.

April industrial production rose for third straight month across all major industries

Industrial production advanced 1.0 percent in April for its third consecutive monthly increase and its largest gain since February 2014, largely as a result of widespread increases among its major industries.At 105.1 percent of its 2012 average, total industrial production in April was 2.2 percent above its year-earlier level. Show More Summary

E-commerce sales growth continued to outpace total retail sales growth in 1Q 2017

U.S. retail e-commerce sales for the first quarter of 2017 rose 4.1 percent from the fourth quarter of 2016. At the same time, total retail sales for the first quarter of 2017 rose 1.0 percent. Comparing year-on-year, the first quarter...Show More Summary

April building permits fall 2.5 percent from March but up 5.7 percent year-on-year

Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,229,000. This is 2.5 percent below the revised March rate of 1,260,000, but is 5.7 percent above the April 2016 rate of 1,163,000. www.metrointel.com

April housing starts dip 2.6 percent from March but up 0.7 percent year-on-year

Privately-owned housing starts in April were at a seasonally adjusted annual rate of 1,172,000. This is 2.6 percent below the revised March estimate of 1,203,000, but is 0.7 percent above the April 2016 rate of 1,164,000. www.metrointel.com

Book Review: The Experience of Architecture

The Experience of Architecture by Henry PlummerThames & Hudson, 2016Hardcover, 328 pagesAlthough usually overshadowed by form, material and technique when it comes to books on architecture, experience seems to be making a comeback. Recent...Show More Summary

NAHB Housing Market Index rises to 70 in May, second-highest rating since the recession

In a further sign that the housing market continues to strengthen, builder confidence in the market for newly-built single-family homes rose two points in May to a level of 70 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Show More Summary

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