Energy Prices Drive Construction Materials Costs Higher in October

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Construction input prices increased .3% in October compared to the previous month, according to an Associated Builders and Contractors’ analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices also increased .3% for the month. Prices increased in all three energy subcategories last month. Natural gas prices increased by 29.3%, unprocessed energy materials prices rose 9.9% and crude petroleum prices advanced by 7.3%. Overall construction input prices are .2% lower than a year ago, while nonresidential construction input prices are 0.5% lower. “Higher energy prices drove the increase in construction input prices observed in October,” … Read more

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National Institute of Building Sciences Opens Building Innovation 2025 Call for Speakers

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The National Institute of Building Sciences has opened the call for speakers for Building Innovation 2025, which will be held May 19-21 at the Ritz-Carlton Tysons Corner in McLean, Virginia. Abstract submissions are due Jan. 3. Industry leaders with valuable insights, case studies, best practices, lessons learned and/or remaining challenges are encouraged to share their knowledge and experiences with a broad audience of building industry stakeholders. The conference theme is Thrive: Strategies for Resilient Communities. The conference will follow three tracks: Leaders, Practitioners and Technologists. NIBS seeks speaker abstracts for the following topics: Functional recovery Sustainable design and construction practices … Read more

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Construction Backlog Indicator Slips in October, Contractor Confidence Remains Elevated

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Associated Builders and Contractors’ Construction Backlog Indicator fell to 8.4 months in October, according to an ABC member survey conducted Oct. 21-Nov. 4. The reading is unchanged from October 2023. Backlog fell in every region except for the Northeast in October, reversing the previous month’s trend in which every region except for the Northeast saw an increase in backlog. Only the Middle States have longer backlog than one year ago. ABC’s Construction Confidence Index readings for sales and staffing levels improved in October, while the reading for profit margins inched slightly lower. The readings for all three components are above … Read more

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Hensel Phelps Awarded Concourse A Reconstruction Project at Nashville International Airport

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Hensel Phelps has been selected to provide Construction Manager at Risk services for the Concourse A Reconstruction Project at Nashville International Airport by the Metropolitan Nashville Airport Authority. As part of the BNA New Horizon program, a long-term plan to accommodate Middle Tennessee’s rapid growth, this project marks Hensel Phelps’ fourth major contract at the airport. The Concourse A project will include the demolition of the existing six-gate concourse and old International Arrivals Facility, reconstruction of a new 16-gate Concourse A and a landside extension of North ticketing and baggage claim. The project is expected to complete the design phase … Read more

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ABC: Almost Half of State Construction Unemployment Rates Down From a Year Ago

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The national September 2024 not seasonally adjusted construction unemployment rate was 3.7%, down .1% from the previous year, according to a state-by-state analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. The analysis also found that 24 states had lower construction unemployment rates over the same period, four states were unchanged and 22 states were higher. National NSA payroll construction employment was 230,000 higher than last September. Since February 2022, seasonally adjusted construction employment has exceeded its pre-pandemic peak of 7.6 million. As of September 2024, SA payroll construction employment stood at 8.3 million. There … Read more

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