ABC: Nonresidential Construction Spending Rises to Highest Level on Record in February

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National nonresidential construction spending increased .3% in February, according to an Associated Builders and Contractors’ analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled roughly $1.2 trillion. Spending was up on a monthly basis in 9 of the 16 nonresidential subcategories. Private nonresidential spending increased .4%, while public nonresidential construction spending was up .2% in February. “Nonresidential spending rebounded in February, rising to the highest level on record,” said ABC Chief Economist Anirban Basu. “A surge in highway and street spending accounted for more than 40% of the monthly increase, and … Read more

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Prices For Nonresidential Construction Materials, Services Climb .5% in February

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The price of materials and services used in nonresidential construction rose .5% in February, following an increase of .7% in January, according to an analysis by the Associated General Contractors of America of government data. The producer price index for inputs to new nonresidential construction —a weighted average of all materials and certain services used in new construction — increased for the second month in a row. Meanwhile, the index for new nonresidential building construction — a measure of what contractors report they would charge to put up a specific set of buildings — dipped by .1% in February, following … Read more

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Construction Materials Prices Increase .6%, Steel Surges Nearly 4% in February

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Construction input prices increased .6% in February, 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 .6% for the month. Overall construction input prices are .3% higher than one year ago, while nonresidential construction input prices are .1% lower. Iron and steel, steel mill product and softwood lumber prices all increased sharply in February. “Nonresidential input prices increased at a rapid pace in February and have risen at a far-too-hot 9% annualized rate through the first two months of 2025,” said ABC Chief Economist Anirban … Read more

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ABC’s Construction Backlog Indicator Inches Lower in February

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Associated Builders and Contractors reported that its Construction Backlog Indicator fell to 8.3 months in February, according to an ABC member survey conducted Feb. 20 to March 5. The reading is up 0.2 months since February 2024. Backlog fell on a monthly basis for contractors with less than $100 million in annual revenues while increasing sharply for contractors with greater than $100 million in annual revenue. Those largest contractors have also accounted for the majority of the increase in backlog observed over the past year. ABC’s Construction Confidence Index reading for staffing improved, while the reading for profit margins declined. … Read more

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ABC: Construction Employment Growth Strong in February

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The construction industry added 19,000 jobs on net in February, according to an Associated Builders and Contractors’ analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has increased by 174,000 jobs, an increase of 2.1%. Nonresidential construction employment increased by 6,200 positions on net, with growth in all three subcategories. Heavy and civil engineering added the most jobs, increasing by 2,500 positions, followed by nonresidential specialty trade, which added 2,000 jobs. Nonresidential building added 1,700 jobs last month. The construction unemployment rate rose to 7.2% in February. Unemployment across all industries increased … Read more

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