Construction Input Prices Up in April, Led by Sharp Increases in Energy Prices

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WASHINGTON, D.C. — Construction input prices rose for a fifth consecutive month in April, increasing by 0.7 percent on a monthly basis and 4.3 percent on a year-over-year basis, according to analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. Nonresidential construction input prices behaved similarly, increasing by .7 percent on a monthly basis and 4.2 percent on a year-ago basis. Prices for final demand goods—the broadest measure supplied by producer price index data —increased by .5 percent in April on a seasonally adjusted basis. Final demand prices are up 2.5 percent on a year-over-year … Read more

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Construction Job Growth Led by Nonresidential Sector, But Remains Tepid

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WASHINGTON, D.C. — National construction employment remained largely unchanged for the second consecutive month, adding 5,000 net new jobs on a seasonally adjusted basis in April, according to analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. The nonresidential construction sector added 3,200 net new jobs in April after adding 8,500 net jobs in March (revised down from 13,300), while the residential sector added just 900 net jobs for the month. Construction employment expanded 2.6 percent on yearly basis, well above the year-over-year growth rate for all nonfarm industries (+1.6 percent). “Today’s employment report confirms … Read more

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Construction Input Prices Moderate in March, Energy Prices Down

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WASHINGTON, D.C. — Construction input prices rose for the fourth consecutive month in March, increasing by .3 percent on a monthly basis and 4.4 percent on a yearly basis, according to analysis of U.S. Bureau of Labor Statistics data recently released by Associated Builders and Contractors. Nonresidential construction input prices performed similarly, increasing by .4 percent for the month and 4.4 percent for the year. Energy-related inputs experienced a sharp decline in prices for the month, with natural gas prices decreasing by 30 percent and crude petroleum prices falling by 10.8 percent. That said, those two inputs have increased by … Read more

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Architecture Billings Index Continues to Strengthen

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WASHINGTON, D.C. – The first quarter of the year ended on a positive note for the Architecture Billings Index. As a leading economic indicator of construction activity, the ABI reflects the approximate 9-12-month lead time between architecture billings and construction spending. The American Institute of Architects reported the March ABI score was 54.3, up from a score of 50.7 in the previous month. This score reflects a sizable increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 59.8, down from a reading of 61.5 the previous month, while the new design … Read more

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Construction Employment Increases by 6,000 Jobs in March

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Construction employment increased by 6,000 jobs in March as a February hiring surge prompted by mild winter weather in much of the country prompted firms to hire fewer people last month, according to an analysis of new government data by the Associated General Contractors of America. Association officials said declining public-sector investments in construction and infrastructure could impact future construction hiring unless the administration and Congress enact a new funding measure. “Construction firms continued to add jobs over the past year at a higher rate than the overall economy,” said Ken Simonson, the association’s chief economist. “The small job gain … Read more

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