DOC Home Page

Newsroom Home


Press Releases


Media Contacts


Secretary Evans

	Biography
	Speeches

Webcast Archive

Photographic Services

Search all Commerce web sites at FirstGov Enter search terms:

EVANS CHEERS RECORD SINGLE FAMILY HOME BUILDING PERMITS; MANUFACTURING PRODUCTION HIGHEST IN NEARLY SIX YEARS

WASHINGTON, D.C. - U.S. Secretary of Commerce Donald L. Evans today hailed the Commerce Department’s report of record high single-family home building permits and higher manufacturing production as yet more signs of the American economy on the up-swing.

“America’s homebuilders are shattering records because they know that more jobs and higher income means families feel financially secure to invest in a home,” Evans said. “At the same time, our nation’s manufacturing industry is gaining steam as production and employment continues to rise. President Bush is leading our nation in the right direction to grow this the economy and create more jobs.”

Housing Background

Single-family permits rose to 1.590 million pace, the highest on record. Overall, building permits jumped unexpectedly by 3.5 percent to a seasonally adjusted annual rate of 2.077 million units from a 2.006 million pace in April. It was the biggest monthly rise since October and the highest level in 30 years. The pace of construction has exceeded last year's 25-year high every month this year.

May Industrial Production Background

This month’s 1.1% gain came in above expectations and is the largest one-month increase since August 1998. The increase in production pushed capacity utilization up to 77.8%. Manufacturing industrial production increased by 0.9% in May. Manufacturing production rose 6.3 percent from the same month last year, the biggest 12-month increase since the year that ended in April 2000.