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By CHRISTOPHER S. RUGABER AP Economics Writer
WASHINGTON (AP) - Expectations are rising for a stronger U.S. economy in 2014 after reports Thursday showed solid growth in manufacturing and construction spending at the end of last year.
Factory activity in December stayed near a 2 -year high. Americans are buying more cars and homes, increasing demand for steel, furniture and other manufactured goods. Manufacturers have boosted hiring to meet that demand and may add jobs at a healthier pace this year.
And builders stepped up spending on home construction in November, despite recent increases in borrowing rates. That suggests many remain confident in the housing recovery.
The economy has had bursts of healthy growth since the recession ended in June 2009, only to be followed by disappointing slowdowns. But many analysts think growth is now more sustainable.
"There was strength in some important sectors of the economy at the end of last year," Paul Dales, an economist at Capital Economics, said. "2014 could be the year where the recovery really starts to gain some ground."
The Institute for Supply Management, a trade group of purchasing managers, said Thursday that its index of manufacturing activity slipped to 57 in December from 57.3 the previous month. But that's still the second-highest reading since April 2011. And any reading above 50 signals growth.
The ISM's measure increased for six straight months through November.
A measure of new orders rose to the highest level since April 2010. And a gauge of hiring increased to its highest level since June 2011. Indexes of production and manufacturers' stockpiles fell.
Separately, construction spending rose 1 percent in November to a seasonally adjusted annual rate of $934.4 billion, the Commerce Department said. That's the highest in more than four years.
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Factory, construction growth boost 2014 outlook
Posted on December 30, 2013
Gregorio and Marcelina Bustos received a loan to help expand their appliance repair business. (ROSS COURTNEY/Yakima Herald-Republic)
MABTON Finally, my dream has become a reality!
Those were the words of Gregorio Bustos at the grand opening of his new store, Pedros Appliances, which first welcomed customers Dec. 6 in Mabton.
Bustos couldnt hide his smile upon seeing his longtime ambition come true: his own store where he can work all year without being limited by the weather.
Don Gregorio as hes known by his customers and friends has been working for 17 years repairing washers, dryers, stoves and refrigerators.
But Bustos had no proper shop in which to do the work, so hes been fixing appliances on the patio of his Mabton home.
Since 2009, Ive been repairing appliances from my patio, even when it was really hot or really cold outside, he said. But still, I had to be able to do my work so I could provide for my family.
For the past year or so, Bustos and his wife, Marcelina, have been participating in a series of training courses with Rural Community Development Resources. There, they received finance and business administration classes, which made them strong candidates to receive one of the agencys loans.
Rural Community Development Resources is a nonprofit organization thats been designated a certified financial development institution by the U.S. Treasury Department. Its mission is to boost new business owners and help them reach a point of operating their businesses long term.
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Mabton resident fulfills dream of being successful business owner
LITTLE ROCK, Ark. (KTHV) - For the first time in 35 years, a brand new multi-story apartment building will be constructed in downtown Little Rock.
The building is called Macarthur Commons and will be built on the site of the former Arkla Gas Headquarters.
Moses Tucker Real Estate will manage the 96 unit complex. "The rental market, younger market, less expensive units but still nice, that's a product that still doesn't exist today downtown and so we feel like the time is right to deliver that to the market," said Moses Tucker co-founder Jimmy Moses. "It's just another phase of the continuing development of the downtown area."
Studio rentals will begin at $650 per month according to Moses. The building will have a pool, fitness center, and balconies with every unit. "Most of all it's a convenience to be close to everything that is downtown and the river market itself," Moses added. "It's just critical that we continue to add supply to the market because the demand is very strong for it."
Over the past ten years, Moses Tucker has opened more than 500 new apartments and condos, and this new project will get them closer to their goal of adding 1,000 units downtown. It's a huge catalyst for bringing young professionals to Little Rock, according to former mayor and Little Rock Downtown Partnership Executive Director Sharon Priest. "Being able to live where you work is very important to a lot of people," she told THV. "The trends are that (creatives) like to be able to walk to whatever they want to do. They're more environmentally conscious and it just fits in much better with their lifestyle."
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Construction to begin on downtown apartment complex
Originally published January 1, 2014 at 8:08 PM | Page modified January 2, 2014 at 5:49 PM
Apartment rents jumped 6.5 percent during 2013 to $1,214 a month in King and Snohomish counties, but tenants should see market rents stay level or even decline this year, a new report suggests.
After climbing 3 percent in 2013s second quarter and 2.4 percent in the third, the average monthly rent in the Seattle metro market actually dipped in the fourth quarter by $5, according to Seattle-based Apartment Insights Washington, which tracks rents, vacancies and concessions in the Puget Sound region.
Meanwhile, the vacancy rate rose to 4.6 percent in the fourth quarter, up from 4.4 percent in the third quarter, and more properties offered fatter concessions, said Tom Cain, principal of the Seattle firm.
Its a clear signal of the market softening, Cain said. Renters in 2014 will have more choices, he said, and shouldnt expect the big hikes of recent quarters.
The Seattle metro area is in the middle of the biggest apartment building boom in two decades. Robust job growth has pushed vacancy rates to historic lows, placing Seattle among the worst U.S. cities for recent rent increases.
The 6.5 percent growth in rent in 2013 was the highest annual increase since the last job boom. Average apartment rents jumped 8.6 percent in 2007 and 9.6 percent in 2006, Cain said.
The firm, which partners with Phoenix-based RealData, in November surveyed 1,173 apartment properties with at least 50 units in King and Snohomish counties.
Bellevue is the regions most expensive city for a one-bedroom apartment, with rent at $1,434 a month. But downtown Seattle including Belltown, Denny Triangle and South Lake Union is the priciest submarket, at $1,624, according to Apartment Insights.
Beyond downtown, Seattles most expensive neighborhoods for a one-bedroom apartment were Fremont/Wallingford ($1,514), Capitol Hill ($1,449) and First Hill ($1,421). The lowest rent was in North Seattle ($957).
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Seattle-area apartment rents may stabilize, even dip in 2014
Unemployment, manufacturing and construction figures all point to economic growth
Siding is installed outside an apartment building under construction in Peoria, Ill., Aug. 16, 2013.
Economy watchers had reasons to be cheerful Thursday morning as several economic reports pointed to stronger growth in 2014.
The Labor Department announced that the seasonally adjusted number of initial jobless claims, or new workers who have filed for unemployment insurance benefits, fell in the week ending Dec. 21 to 339,000 from the previous weeks revised estimate of 341,000.
Other data like the Institute for Supply Managements monthly survey of the American manufacturing industry were also bullish for the labor market, with manufacturers indicating economic growth expanded in December. The overall index registered at57 percent, the second highest reading for the year after Novembers index of 57.3 percent. Any reading above 50 indicates an expanding manufacturing sector.
Finally, the Census Department reported this morning that construction spending during November 2013was estimated at an annual rate of $934.4 billion on a seasonally adjusted rate, 1 percent higher than Octobers reading, and 5.9 percent higher than last year.
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Economic Indicators Up For 2014
This article is about the general term. For the Jamaican creole language, see Jamaican Patois.
Patois (//, pl. same or //)[1] is any language that is considered nonstandard, although the term is not formally defined in linguistics. It can refer to pidgins, creoles, dialects, and other forms of native or local speech, but not commonly to jargon or slang, which are vocabulary-based forms of Cant. Class distinctions are embedded in the term, drawn between those who speak patois and those who speak the standard or dominant language used in literature and public speaking, i.e., the "acrolect".
The term patois comes from Old French, patois "local or regional dialect"[1] (earlier "rough, clumsy, or uncultivated speech"), possibly from the verb patoier, "to treat roughly", from pate "paw",[2] from Old Low Franconian *patta "paw, sole of the foot" + -ois, a pejorative suffix. The language sense may have arisen from the notion of a clumsy or rough manner of speaking.
In France and other Francophone countries, patois has been used to describe non-standard French and regional languages such as Breton, Picard, Occitan, and Franco-Provenal, since 1643. The word assumes the view of such languages being backward, countrified, and unlettered, thus is considered by speakers of those languages as offensive when used by outsiders. Jean Jaurs said "one names patois the language of a defeated nation".[3] However, speakers may use the term in a non-derogatory sense to refer familiarly to their own language[citation needed] (see also languages of France).
Many of the vernacular forms of English spoken in the Caribbean are also referred to as patois (occasionally spelled in this context patwah). It is noted especially in reference to Jamaican Patois from 1934. Jamaican Patois language comprises words of the native languages of the many races within the Caribbean including Latin, Spanish, Portuguese, Chinese, Japanese, Amerindian, and English along with several African languages. Some islands have creole dialects influenced by their linguistic diversity; French, Spanish, Latin, Arabic, Hebrew, German, Dutch, Italian, Chinese, Japanese, Vietnamese, and others. Patois are also spoken in Costa Rica and other Caribbean islands such as Trinidad and Tobago and Guyana in South America.
Often these patois are popularly considered "broken English", or slang, but cases such as Jamaican patois are classified with more correctness as a creole language; in fact, in the Francophone Caribbean the analogous term for local variants of French is crole (see also Jamaican English and Jamaican Creole). The French patois of the Lesser Antilles are dialects of French which contain some Caribe and African words. Such dialects often contain folk-etymological derivatives of French words, for example lavier ("river, stream") which is a syncopated variant of the standard French phrase la rivire ("the river") but has been identified by folk etymology with laver, "to wash"; therefore lavier is interpreted to mean "a place to wash" (since such streams are often used for washing laundry).
Other examples of patois include Trasianka, Sheng, and Tsotsitaal.
The hip hop group Das Racist released the album Shut Up, Dude as a free mix-tape in March 2010; the fifth track on this album is "Fake Patois", which engages issues of authenticity in popular culture.
Also named "Patu" in the Paria Peninsula of Venezuela, and spoken since the 18th century by self colonization of French people (from Corsica) and Caribbean people such as JAMAICA, which is the main country that speaks this language (from Martinique, Saint Thomas, Trinidad, Guadeloupe, Haiti) who moved for cacao production. Patois is spoken fluently in Dominica and Saint Lucia in the Caribbean.
The Macanese language, or Macau Creole, is also called Patu, and was spoken by the Macanese community of the Portuguese colony of Macau.
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Patois - Wikipedia, the free encyclopedia
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Historic District Commission wants to see old building preserved
The Historic District Commission has raised concerns about the demolition of this building because of historical significance.Jeff McMenemy photo
EXETER A longtime local businessman's efforts to demolish an abandoned downtown garage to create a new mixed-use development has run into opposition from the town's Historic District Commission.
Pam Gjettum, chairwoman of the commission, told Allen Lampert, owner of the garage at 1 Franklin St., she is opposed to having the building demolished because she believes it is "historically significant."
"They would be tearing down something that means something to Exeter," Gjettum said during the commission's recent meeting in the Town Offices.
The commission eventually deadlocked 2-2 on a vote to demolish the building.
But Gjettum said in an interview earlier this week that a recent tour of the site the first garage and auto dealership in Exeter has her hopeful that commission members can work with Lampert's architect to save at least some elements of the garage.
"They're thinking about (putting) a restaurant there," Gjettum said. "At least if we could save a wall or save a facade so people could look at it and know there was a garage there once."
Gjettum said she is "cautiously optimistic" that something can be worked out.
"Al is a really, really nice guy and he does a lot for the town," Gjettum said.
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Exeter garage developer meets opposition
