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...A version of this article was first published by Nikkei Asia on December 15 2021. ©2021 Nikkei Inc....
...The US energy company said it still expected to ramp up to full capacity for the first of three LNG trains at the plant over the next six to eight months, and that construction was continuing unaffected...
...That helped offset recent modest falls in the manufacturing and construction indices and took the composite PMI to 58.8, versus 57.9 previously....
...Within these categories, manufacturing employment rose by 4,000 and the number of construction jobs increased by 10,000, the strongest since March when mild winter weather boosted construction activity....
...“We have made real progress eliminating the economic imbalances – too much debt among individuals, too much leverage in the financial sector, and too much residential and commercial real estate construction...
...Dale Ford, senior analyst at IHS iSuppli, a US electronics consultancy, said “significant shortages” could build up but warned the full impact would not be felt for several months....
...Paul Dales at Capital Economics is also pessimistic and has warned that the expiry of the tax credit had “triggered a double-dip in activity” in the homebuying market....
...“The expiry of the government’s homebuyer tax credit at the end of April has triggered a double-dip in activity,” said Paul Dales at Capital Economics....
...“Homebuilders got ahead of themselves by extrapolating forward the surge in demand generated by the tax credit,” said Paul Dales, US economist at Capital Economics....
...US residential construction “has finally emerged from the tunnel and into a bit of daylight,” Toll Brothers, the country’s biggest luxury homebuilder, said on Wednesday as sales of new homes hit their highest...
...Bad weather in the northeastern and southern US damped construction....
...Few industries were spared, with construction companies, manufacturers, retailers and government agencies culling the highest numbers of workers....
...Mr Pado also noted a “stunning increase” of 0.8 per cent in construction spending in April. Others, however, were less optimistic....
...The key areas of demand for aluminium are from the aerospace, automotive, construction and packaging industries....
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