Nonresidential Construction Spending Slips

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WASHINGTON, D.C. — Nonresidential construction spending contracted during January, according to analysis of U.S. Census Bureau released by Associated Builders and Contractors. Nonresidential spending fell 1.9 percent from December to $698.4 billion on a seasonally adjusted, annualized basis. This represents the first month total nonresidential construction spending dipped below $700 billion since July 2016. Despite the monthly setback, year-over-year progress remains intact, with nonresidential spending increasing 1.5 percent since January 2016. However, in real terms, that represents virtually nonexistent growth. Private nonresidential spending remained unchanged for the month, while public sector spending plunged 4.7 percent. The greatest loss in spending … Read more

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Dodge Momentum Index Increases in February

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NEW YORK, N.Y. – The Dodge Dodge Momentum Index rose 1.6 percent in February to 144.0 (2000=100) from its revised January reading of 141.7. 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. February’s increase was due to a 4.4 percent jump in institutional planning, while commercial planning slipped slightly, falling 0.3 percent for the month. The momentum index has now increased for five consecutive months; however, the underlying components continue to be volatile on … Read more

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Construction Firms Struggle to Keep Pace with Growing Demand, Says AGC

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Thirty-nine states added construction jobs between January 2016 and January 2017 while 38 states and D.C. added construction jobs between December and January, according to a recently released analysis by the Associated General Contractors of America. Association officials said that many firms report they are having a hard time finding enough qualified workers to hire as they work to keep pace with growing demand. “Even as firms continue to find ways to expand their headcount, they are increasingly concerned about the lack of available, qualified workers,” said Ken Simonson, chief economist for the association. “There is only so much firms … Read more

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Construction Spending Slips in January

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Construction spending slipped from December to January but increased modestly from a year ago, as private construction grew solidly but public infrastructure outlays tumbled, according to an analysis by the Associated General Contractors of America. Association officials said the January data indicates the need for new public investments in infrastructure along the lines of the trillion dollar proposal President Trump outlined during his Congressional address last night. “These numbers suggest that demand for residential and private nonresidential structures remain strong but all levels of government are struggling to fund needed projects,” said Ken Simonson, the association’s chief economist. “It appears … Read more

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January Construction Starts Jump 12 Percent

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NEW YORK, N.Y. – The value of new construction starts in January climbed 12 percent to a seasonally adjusted annual rate of $690.2 billion, according to Dodge Data & Analytics. After losing momentum during last year’s fourth quarter, nonresidential building strengthened in January, with much of the lift coming from the start of the $3.4-billion Central Terminal Building at LaGuardia Airport in New York, New York,as well as groundbreaking for several other large airport terminal projects. Nonbuilding construction bounced back from a subdued December, with the boost arising from a $750-million natural gas-fired power plant in Florida plus two pipeline … Read more

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