ABC: Construction Input Prices Increase in April

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Construction input prices increased 0.5% in April compared to the previous month, according to the latest Associated Builders and Contractors’ analysis of U.S. Bureau of Labor Statistics Producer Price Index data. Nonresidential construction input prices increased .6% for the month. Prices increased in 2 of the 3 energy subcategories last month. Crude petroleum prices were up 10.6%, while unprocessed energy materials prices increased 8.2%. Natural gas prices were down slightly by 0.9%. “Construction input prices jumped half a percentage point higher in April and have increased 3.5% over the first four months of the year,” said ABC Chief Economist Anirban Basu. “While iron, steel, asphalt and gypsum product prices fell in April, oil and copper prices surged, driving the monthly increase. Rising input prices will put pressure … Read more

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Construction Begins on Jacksonville Aviation Authority’s Third Concourse, Parking Garage

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Balfour Beatty breaks ground on Jacksonville Aviation Authority’s approximately $340 million Concourse B project and an additional parking garage at Jacksonville International Airport in Florida. A ceremonial dirt turning event was held on May 10. Once complete, the major construction projects will transform the travel experience at JAX and meet future demand of forecasted passenger traffic. Balfour Beatty serves as general contractor for the deliveries of the new concourse and approximately $100 million parking garage structure at JAX. Concourse B will be constructed over three major phases which includes the delivery of phase one, the security checkpoint expansion which was completed in Fall 2023. Phase two includes … Read more

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2024 Construction Employment Changes by State

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In March, the U.S. construction industry added a whopping 39,000 jobs, roughly double the average pace over the past few years and defying expectations of an already stretched-thin labor force. However, the construction industry remains highly localized and the where is extremely important when it comes to getting any project over the finish line. The distribution of gains by state reveals much about the industry’s needs and direction. New York outperformed all other states by a significant margin, accounting for roughly a quarter of total job gains (+9,500). While this growth reversed a sharp downturn from last month, the state’s … Read more

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Dodge Momentum Index Increases 6% in April

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The Dodge Momentum Index, issued by Dodge Construction Network, increased 6.1% in April to 173.9 (2000=100) from the revised March reading of 164.0. Over the month, commercial planning improved 12.6% and institutional planning dropped 6.3%. A flood of data center projects entered planning in April, causing robust growth in the commercial segment of the DMI, while traditional office and hotel projects continued to face slower momentum. Warehouse planning was basically flat. On the institutional side, education and healthcare planning activity receded again – in part, driven by another month of weak life science and R&D laboratory activity. Year over year, the DMI was 1% lower than in April 2023. The commercial segment was … Read more

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