Construction Spending Rises for Fifth Month in a Row in December, Private Investment Climbs in 2017

  • Posted on

Construction spending increased for a fifth consecutive month in December as private residential and nonresidential investment for the year topped 2016 totals, while declining infrastructure spending dragged down public-sector outlays, according to an analysis of new government data by the Associated General Contractors of America. Association officials said federal, state and local officials should address the growing shortfall in transportation, water and wastewater infrastructure in order to sustain economic growth and improve public health and safety. “Construction spending ended the year on a high note, with gains over November levels for all major categories, but the annual totals for 2017 […]

Filed under: Economic NewsTagged with: ,

Nonresidential Construction Maintains Momentum in December, ABC Says

  • Posted on

WASHINGTON, D.C. – Nonresidential construction spending expanded 0.8 percent in December, totaling $720.4 billion on a seasonally adjusted basis, according to Associated Builders and Contractors’ analysis of data released by the U.S. Census Bureau. This represents the fifth consecutive month during which the pace of nonresidential spending has increased. Nonresidential spending expanded 0.1 percent on a year-over-year basis and sits at its highest level since March. Private nonresidential construction spending increased 1.1 percent for the month, but is down 2.5 percent year over year, while public nonresidential spending increased 0.4 percent for the month and 4.4 percent for the year. […]

Filed under: Economic NewsTagged with: , ,

Architecture Billings End Year on Positive Note

  • Posted on

WASHINGTON, D.C. – The Architecture Billings Index concluded the year in positive terrain, with the December reading capping off three straight months of growth in design billings. The American Institute of Architects reported the December ABI score was 52.9, down from a score of 55.0 in the previous month. This score still 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 61.9, up from a reading of 61.1 the previous month, while the new design contracts index decreased slightly from 53.2 to 52.7. […]

Filed under: Economic NewsTagged with: , ,

Deepening Labor Struggle Driving Future of Construction

  • Posted on

The construction labor shortage continues to deepen nationally, evident by a historically low unemployment rate of 4.5 percent. There has been minimal growth in the workforce over the last nine months, with no sign of an increase. Because of this, industry professionals can expect project timelines to be extended, wages to increase at a faster rate and all eyes focused on construction technology to offset these challenges. Despite this, the industry continued to hit a mature stage of economic expansion in the third quarter, according to a new report from JLL that tracks national construction trends. Construction spending was up […]

Filed under: Economic News, eNewsTagged with: , , , ,

Three-Quarters of Construction Firms Plan to Expand 2018 Headcount

  • Posted on

Seventy-five percent of construction firms plan to expand their payrolls in 2018 as contractors are optimistic that economic conditions will remain strong as tax rates and regulatory burdens fall, according to survey results released by the Associated General Contractors of America and Sage Construction and Real Estate. Despite the general optimism outlined in “Expecting Growth to Continue: The 2018 Construction Industry Hiring and Business Outlook,” many firms report they remain worried about workforce shortages and infrastructure funding. “Construction firms appear to be very optimistic about 2018 as they expect demand for all types of construction services to continue to expand,” […]

Filed under: Economic NewsTagged with: , , ,