Construction Input Prices Tick Higher in June, Crude Petroleum Prices Rebound

  • Posted on

WASHINGTON, D.C. –Construction input prices rose .2 percent in June, according to an analysis of Bureau of Labor Statistics data released by Associated Builders and Contractors. This represents the sixth increase in construction input prices over the past seven months, but the overall rate of increase has been quite slow. On a year-over-year basis, construction input prices are up 2.6 percent. Nonresidential construction input prices also rose .2 percent in June and are up 2.3 percent on a year-ago basis. Much of the input price inflation in June was due to increased charges for crude petroleum, which registered a price … Read more

Filed under: Economic NewsTagged with: , ,

Construction Employment Increases In 264 out of 358 Metro Areas Between June 2016, 2017

  • Posted on

Construction employment increased in 264 out of 358 metro areas between June 2016 and June 2017, declined in 57 and stagnated in 37, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials noted that even though most metro areas added construction jobs, the employment gains were particularly pronounced in the western third of the country. “Western metro areas, from southern California and Nevada to Oregon and Washington, logged many of the largest absolute and percentage increases in construction employment in the past year,” said Ken Simonson, the association’s chief economist. … Read more

Filed under: Economic NewsTagged with: ,

Nonresidential Building and Electric Utilities Advance, Housing Recedes

  • Posted on

NEW YORK, N.Y. – New construction starts in June grew 4 percent from the previous month to a seasonally adjusted annual rate of $679.9 billion, according to Dodge Data & Analytics. Nonresidential building increased 13 percent in June, strengthening after two months of lackluster activity, and the nonbuilding construction sector rose 8 percent with the help of elevated activity for electric utilities. However, residential building slipped 4 percent in June, as both sides of the housing market (single-family and multifamily) retreated. Through the first six months of 2017, total construction starts on an unadjusted basis were $342.7 billion, down 4 … Read more

Filed under: Economic NewsTagged with: ,

Construction Employment Climbs Between June 2016, 2017

  • Posted on

Forty-one states added construction jobs between June 2016 and June 2017 amid continuing widespread demand for construction services, while 25 states and the District of Columbia added construction jobs between May and June, according to an analysis by the Associated General Contractors of America of Labor Department data recently released. Association officials said the smaller number of states adding workers in the latest month may indicate a shortage of qualified job seekers, rather than a slowdown in demand for construction. “Contractors in most of the country say they have plenty of projects booked and would like to hire more workers … Read more

Filed under: Economic NewsTagged with: , ,

Turner’s Second Quarter Building Cost Index Reflects Busy Construction Market

  • Posted on

Turner Construction Company announced that the Second Quarter 2017 Turner Building Cost Index—which measures costs in the nonresidential building construction market in the United States—has increased to a value of 1031. This represents a 1.18 percent quarterly increase from the first quarter 2017 and a 4.88 percent yearly increase from the second quarter 2016. The second quarter has seen relatively consistent cost increases across the country, with raw material prices continuing to make moderate gains – particularly among aluminum materials. Engineered products have also seen moderate gains. Additionally, fuel costs have remained relatively flat, having little effect on costs. “The … Read more

Filed under: Economic NewsTagged with: ,