Architecture Billings Continue Growth into 2018

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WASHINGTON, D.C. – The new year started on a strong note for architecture firms, as the Architecture Billings Index saw its highest January score since 2007. The American Institute of Architects reported the January ABI score was 54.7, up from a score of 52.8 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 61.1, down from a reading of 62.0 the previous month, while the new design contracts index increased slightly from 53.4 to 53.9. “Healthy conditions […]

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Construction Employment Increases in 269 Metro Areas Between December 2016, 2017

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Construction employment increased in 269 out of 358 metro areas between December 2016 and December 2017, declined in 43 and stagnated in 46, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said new infrastructure funding would help ensure firms continue to expand their headcount in 2018. “Construction employment continues to expand amid robust private-sector demand in many parts of the country,” said Ken Simonson, the association’s chief economist. “But with public-sector funding lagging, there is little doubt that more firms would be able to expand their headcount this year […]

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Construction Employers Add 36K Jobs in January, Hourly Earnings Rise

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Construction employment increased by 36,000 jobs in January to the highest level since August 2008, according to an analysis of new government data by the Associated General Contractors of America. Association officials said a possible new measure being discussed in Washington that would invest an additional $1.5 trillion in repairing and improving infrastructure would both help the sector continue to add jobs and attract new workers. “The construction industry has consistently added workers at nearly double the rate of the overall economy,” said Ken Simonson, the association’s chief economist. “The outlook remains positive for further growth in the industry. But […]

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Strong Economy, Weaker Dollar Help Construction Materials Prices Recover in January

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WASHINGTON, D.C. – Overall construction input prices increased 1.1 percent in January, reversing a slight decline in December 2017, according to a recently released Associated Builders and Contractors analysis of Bureau of Labor Statistics data. Compared to this time last year, overall construction materials prices are up 4.9 percent. Nonresidential construction materials prices are up 4.7 percent year over year and up 1 percent on a monthly basis. The price of natural gas fell 13.1 percent in January and is down 31 percent on a year-over-year basis. In stark contrast, the price of crude petroleum rose 11.6 percent in January […]

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Strong Level of Construction Activity Across U.S. Continues to Drive Increase in Construction Costs

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According to Turner Construction Company’s quarterly Building Cost Index, the busy construction market, shortages of skilled labor and the impact of natural disasters on material production and demand are putting upward pressure on construction costs. Officials with Turner Construction Company announced that the Fourth Quarter 2017 Turner Building Cost Index—which measures costs in the non-residential building construction market in the United States—has increased to a value of 1058. This represents a 1.34 percent quarterly increase from the Third Quarter 2017 and a 5.17 percent yearly increase from the Fourth Quarter 2016. “We saw slight cost increases for select raw materials […]

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