ABC’s Construction Confidence Index Surges in Q1

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WASHINGTON, D.C. – Despite ongoing concerns regarding labor force availability and rising interest rates, and emerging concerns regarding tariffs and construction materials prices, construction contractors emerged from the first quarter of 2018 with tremendous confidence, according to the Associated Builders and Contractors Construction Confidence Index. Each of the three indices—sales, profit margins and staffing levels—increased during the first quarter and remain well above the threshold reading of 50. The CCI for sales expectations increased from 67.1 to 72.2 during the first quarter of 2018 The CCI for profit margin expectations increased from 60.7 to 63.4 The CCI for staffing levels […]

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Dodge Momentum Index Inches Up in May

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The Dodge Momentum Index eked out a small gain in May, moving 1.8 percent higher to 167.8 (2000=100) from the revised April reading of 164.9. 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. May’s gain was the result of a 4.7 percent increase by the commercial component of the momentum index, while the institutional component fell 2.4 percent. The momentum index has posted solid gains through the first five months of 2018, rising 19 […]

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Construction Costs Soar in May, Outpace Contractor Pricing

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Construction costs accelerated again in May, with steep increases for a wide range of building and road materials, including many that are subject to tariffs that could drive prices still higher, according to an analysis by the Associated General Contractors of America of new Labor Department data. Association officials say that the construction industry will bear a heavy share of the tariffs’ costs. “Prices jumped at double-digit annual rates for metals, lumber and plywood, and diesel fuel, while ready-mixed concrete, asphalt paving and roofing materials also had unusually large increases,” said the association’s chief economist, Ken Simonson. “The cost of […]

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Construction Costs Surge in April

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The cost of goods used in construction jumped in April at the fastest year-over-year rate since 2011, with ongoing increases for a wide range of building materials, including many that are subject to proposed tariffs that could drive prices still higher and cause scarcities, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials said that the new data indicates many firms are already being squeezed by higher materials prices that they are unable to pass along to their customers. “Contractors have started to boost the prices they charge, but they are falling […]

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New Construction Starts in April Pull Back 13 Percent

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NEW YORK, N.Y. – The value of new construction starts in April fell 13 percent from the previous month to a seasonally adjusted annual rate of $674.3 billion, according to Dodge Data & Analytics. The decline follows the 11 percent gain reported for March, which was the highest level of construction starts over the preceding six months. The loss of momentum in April was widespread, involving each of the three main construction sectors. Nonbuilding construction (public works and electric utilities/gas plants) plunged 22 percent after its 74 percent hike in March that featured the start of the $3.5-billion Mountain Valley […]

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