Dodge Momentum Index Remains Strong in November

NEW YORK, N.Y. – The Dodge Momentum Index surged again in November, climbing 13.9 percent to 149.5 (2000=100) from the revised October reading of 131.3. The momentum index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The November increase was the second month of strong gains after a four-month period of softness. November’s advance was the result of healthy gains in both the commercial and institutional sectors. From October to November, the commercial portion of the momentum … Read more

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Construction Employment Increases in 243 Metro Areas between October 2016, 2017

Construction employment increased in 243 out of 358 metro areas between October 2016 and October 2017, declined in 59 and stagnated in 56, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said the best way to ensure metro areas continue to add construction jobs is to treat small and medium-sized employers more fairly and include new infrastructure funding as part of federal tax reform. “Growing demand, especially from the private sector, is continuing to drive construction employment gains in many parts of the country,” said Ken Simonson, the association’s … Read more

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Architecture Billings Bounce Back

WASHINGTON, D.C. – After a stand-alone month of contracting demand for design services, there was a modest uptick in the Architecture Billings Index for October. As a leading economic indicator of construction activity, the ABI reflects the approximate 9-12-month lead time between architecture billings and construction spending. The American Institute of Architects reported the October ABI score was 51.7, up from a score of 49.1 in the previous month. This score reflects an increase in design services provided by U.S. architecture firms (any score above 50 indicates an increase in billings). The new projects inquiry index was 60.2, up from … Read more

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Hurricane Recovery Helps Construction Unemployment Rate Hit Lowest October Mark on Record

WASHINGTON, D.C. – The not seasonally adjusted national construction unemployment rate was 4.5 percent in October, down 1.2 percent from a year ago, the U.S. Bureau of Labor Statistics reported. It was the lowest October rate on record, matching the rate in 2006, according to analysis released today by Associated Builders and Contractors. Further, the construction industry employed 180,000 more workers than in October 2016. Construction unemployment rates were also down in 44 states on a year-over-year basis, unchanged in one (South Dakota) and up in five states. “Recovery from the various hurricanes that hit the United States appeared to … Read more

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