Dodge Momentum Index Moves Higher in January

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NEW YORK, N.Y. – The Dodge Momentum Index rose 3.9 percent in January to 142.6 (2000=100) from its revised December reading of 137.3. 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. The move higher in January was due to a 12.1 percent increase in institutional planning outweighing a 1.0 percent decline in commercial planning intentions. Despite the decline in commercial planning in January, that portion of the momentum index remains near its eight-year high, … Read more

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Construction Firms Getting Squeezed by Increasing Materials, Labor Costs

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The cost of materials used in construction rose markedly faster than the price of completed buildings, according to a new analysis of federal producer price data recently released by the Associated General Contractors of America. Association officials cautioned that potential restrictions on the use of imported construction materials threaten to drive up the price of infrastructure, buildings and new homes and apartments. “Steep price hikes have hit a wide range of key materials used in construction in the past few months, and contractors have received numerous letters from vendors announcing large additional increases in the next month or two,” said … Read more

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Construction Job Growth Rebounds in 2017, ABC Says

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WASHINGTON, D.C. – National construction employment started 2017 on a high note, adding 36,000 net new jobs on a seasonally adjusted basis in January, according to analysis of U.S. Bureau of Labor Statistics data released by the Associated Builders and Contractors. The 0.5 percent increase represents the best month for construction employment growth since March of 2016. The nonresidential construction sector added 14,900 net new jobs for the month, while its residential counterpart added 20,300 net new jobs (note that these don’t sum to the total due to rounding). The construction industry added 170,000 net new jobs on a yearly … Read more

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New Construction Starts in December Slide 5 Percent

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NEW YORK, N.Y. – New construction starts in December slipped 5 percent to a seasonally adjusted annual rate of $613.0 billion, according to Dodge Data & Analytics. The latest month’s decline for total construction was due to sharply reduced activity for the nonbuilding construction sector, reflecting further erosion by public works as well as a steep plunge by the electric utility/gas plant category. At the same time, nonresidential building in December held steady with its November pace, and residential building was able to register moderate growth. For all of 2016, total construction starts advanced 1 percent to $676.5 billion, a … Read more

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Thirty-Two States Add Construction Jobs in 2016

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Thirty-two states added construction jobs in 2016 as a dearth of experienced workers kept contractors in many states from hiring as many employees as they would have preferred, according to data in a recently released analysis by the Associated General Contractors of America of Labor Department and the association’s own survey. Association officials said the new Trump administration could help by including workforce development measures as part of its promised new infrastructure program. “Although the number of states reporting construction employment increases has dwindled, contractors are more upbeat than ever about the construction market and intend to hire more workers … Read more

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