Dodge Momentum Index Moves Higher in June

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NEW YORK, N.Y. – The Dodge Momentum Index took another step forward in June, increasing 1.1 percent to 141.1 (2000=100) from its revised May reading of 139.6. 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. June’s lift was due to a 4.8 percent advance by the institutional component of the momentum index, while the commercial component fell 1.3 percent. The momentum index has exhibited substantial strength since mid-2016, with the institutional and commercial components … Read more

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ABC’s Construction Backlog Indicator Rebounds in 2017

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WASHINGTON, D.C. –The most recent Construction Backlog Indicator from the Associated Builders and Contractors rose to 9 months during the first quarter of 2017, up 8.1 percent from the fourth quarter of 2016. CBI is up by .4 months, or 4 percent, on a year-over-year basis. Highlights by Region Surging financial markets helped support activity in financial centers like New York, Philadelphia and Boston. Expanding cyber-security and life sciences activity supported markets as geographically diverse as Washington, D.C./Baltimore, Maryland; Austin, Texas; Silicon Valley, California and Seattle, Washington. Though backlog is slightly lower in the South on a year-over-year basis, it … Read more

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Jobs Report Offers Reasons for Hope and Concern for Construction Industry, ABC Says

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WASHINGTON, D.C. — National construction employment added 11,000 net new jobs on a seasonally adjusted basis in May according to analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. The nonresidential construction sector added 4,400 net new jobs in May after losing 1,000 net jobs in April (revised down from a net increase of 3,200 jobs), while the residential sector added 7,100 net jobs for the month. Overall construction employment expanded 2.9 percent on yearly basis, well above the year-over-year growth rate of 1.6 percent for all nonfarm industries. “Today’s jobs numbers supply a mixture … Read more

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Construction Input Prices Flat, Crude Petroleum Prices Plummet, ABC Says

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WASHINGTON, D.C. — Construction input prices remained unchanged in May, ending five consecutive months of price expansion, according to analysis of  Bureau of Labor Statistics data released by Associated Builders and Contractors. Construction input prices expanded 3.4 percent on a year-over-year basis. Nonresidential construction input prices also remained unchanged on a monthly basis but increased by 3.1 percent on a yearly basis. Only crude petroleum prices experienced a significant month-over-month change in May, with prices falling 19.6 percent from April’s level. Natural gas prices remain significantly higher—up 66 percent—from the same time one year ago. “Since March 2016, construction input … Read more

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Dodge Momentum Index Resumes Growth in May

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NEW YORK, N.Y. – Following a dip in April, the Dodge Momentum Index advanced 4 percent in May to 139.1 (2000=100) from its revised April reading of 133.7. 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. In May, the commercial component of the momentum index increased 4.8 percent to an eight-and-a-half year high, which suggests that construction activity for commercial buildings will continue to rise over the next year, even with signs of decelerating … Read more

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