First business economic indicator report

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Valentine Berry
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1 First business economic indicator report MADISON Below you will find our 2013 second quarter First Business Economic Indicator Report. This report includes various market data relevant to business owners and executives and is provided as a value-added quarterly service from First Business. We hope that you find this report on the business climate of value. As always, if you have any feedback, please let us know by contacting us at INTEREST RATES Interest Rate Outlook: After the conclusion of the June FOMC meeting the Federal Reserve announced it will continue to purchase longer-term Treasury securities and mortgage-backed securities. Their intent is to maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative. The FOMC did state Labor market conditions have shown further improvement in recent months, on balance, but the unemployment rate remains elevated. Also, The Committee sees the downside risks to the outlook for the economy and labor market as having diminished since the fall. The Fed Funds Rate was not changed, is in their target range of 0.0% to 0.25% and will remain at this level until unemployment gets below 6.5% and inflation rates are above 2.5%. The Fed Funds Rate has not changed since December 16, Over the next six months, the FOMC is scheduled to meet in July, September, November and December. Copyright 2012 Member FDIC

2 Leading Indicators Capacity Utilization is the Federal Reserve s measure of manufacturing growth used to gauge inflationary pressure. The 85% mark is seen as a key barrier over which inflationary pressures are generated. A PMI reading above 50% indicates that the manufacturing economy is generally expanding; below 50% it is generally declining. Copyright 2012 Member FDIC

4 year-to-date building permit data Note: 2010 totals do not include January value of alterations and February activity because the data remains unreported. NA - Not Available The above report is compiled by and utilizes data from a number of public sources including; Board of Governors of the Federal Reserve System, Institute for Supply Management, Inc., U.S. Department of Labor, U.S. Department of the Treasury and City of Madison Department of Planning and Development.

5 2013 projects greater than $750k January 58-Unit Apartment Building, 201 S. Bedford St., $5.2M, Stevens Construction College Alteration, 1000 Edgewood College Dr., $.790M, Vogel Brothers February Office Alteration, 1224 Deming Way, $1M, Ideal Builders Inc. New Snow Removal Building, 2519 Grimm St., $12M, Miron Construction Co. HospitalOutpatient Clinic Addition, 3102 Meriter Way, $1M, Erdman Company Hospital New Shell Building, 750 University Row, $14M, Krupp General Contractors, LLC MARCH Reroof, 3330 Atwood Ave., $1.2M, Joe Daniels Construction Office Addition and Alteration, 111 N. Fairchild St., $12M, J.H. Findorff 48-Unit Apartment Building, 5816 Halley Way, $3.6M, FMI Development LLC New Office, 2202 S. Park St., $3.8M, Erdman Company New Retail Building, 7319 West Towne Way, $1.3M, Stewart/Perry Co. Inc. New Parking Garage, 519 Wisconsin Ave., $4M, J.H. Findorff Additon & Alteration, 666 Wisconsin Ave., $31.4M, J.H. Findorff APRIL 57-Unit Apartment, 901 Drake St., $8M, Connery Construction, Inc. 47-Unit Apartment, 5804 Halley Way, $3.5M, FMI Development Alteration Apartment, 1138 Moorland Rd., $.8M, Owner Alteration Apartment, 1054 Moorland Rd., $.9M, Owner Alteration Apartment, 1142 Moorland Rd., $.8M, Owner Alteration Apartment, 1162 Moorland Rd., $.8M, Owner New Assisted Living Center, 6550 Schroeder Rd., $3.8M, Owner New Office, 5739 Tokay Blvd., $1.1M, Kenneth Sullivan Company Inc. Alteration Truax Air Park, 1701 Wright St., $1.3M, J.H. Findorff MAY New Office, 2401 Grimm St., $2M, Ideal Builders Inc New Building, 7001 Manufacturers Dr., $9M, Wahlgren Schwenn Inc. New Building, 1219 N Sherman Ave., $.8M, Engineered Construction The above report is compiled by and utilizes data from a number of public sources including; Board of Governors of the Federal Reserve System, Institute for Supply Management, Inc., U.S. Department of Labor, U.S. Department of the Treasury and City of Madison Department of Planning and Development.

The U.S. Outlook and Monetary Policy. Esther L. George President and Chief Executive Officer Federal Reserve Bank of Kansas City

The U.S. Outlook and Monetary Policy Esther L. George President and Chief Executive Officer Federal Reserve Bank of Kansas City February 2, 2016 Central Exchange Kansas City, Mo. The views expressed by