Construction Input Prices Surge to Start 2017, ABC Says Energy Prices Remain on the Ascent

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WASHINGTON, D.C. – Construction input prices collectively rose by 1 percent on a monthly basis and 3.8 percent on a year-over-year basis, according to analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. This represents the fastest year-over-year rate of materials price inflation since the beginning of 2012. Nonresidential input prices rose 0.9 percent for the month and are up 4 percent year over year. The rise in input prices is largely attributable to natural gas prices, which expanded 23.6 percent for the month and are up 81.8 percent year over year. Crude petroleum prices … Read more

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AIA Reports Healthy Outlook for Nonresidential Construction Market

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WASHINGTON, D.C. – With construction spending continuing on an upward trajectory, 2016 can be considered a successful year for the nonresidential building sector.  For the coming year, the American Institute of Architects semi-annual Consensus Construction Forecast is projecting growth in overall nonresidential building spending of almost 6 percent, just below the pace of growth for 2016. The commercial construction sectors – retail, office and hotel – will continue to lead the building recovery, while industrial construction is projected to see almost no increase this year. For 2018, the institutional construction sectors will generate much of the growth, particularly the large … Read more

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Construction Unemployment Rates Improve in 26 States Year-Over-Year, ABC Says

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WASHINGTON, D.C. – December not seasonally adjusted construction unemployment rates were down in 26 states and the nation on a year-over-year basis, according to an analysis released by Associated Builders and Contractors. The rates for two states, Iowa and Wisconsin, were unchanged from December 2015. The national NSA construction unemployment rate of 7.4 percent was down 0.1 percent from a year ago, according to data from the U.S. Bureau of Labor Statistics. The national NSA construction unemployment rate has fallen from the previous year’s reading every month since October 2010. Since these industry-specific rates are not seasonally adjusted, it is … Read more

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Construction Employment in January Reaches Highest Level Since 2008

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Construction employment increased by 36,000 jobs in January to the highest level since November 2008 as employers increased pay in an effort to address a chronic worker shortage, according to an analysis of new government data by the Associated General Contractors of America. The association urged public officials to strengthen training and education programs to prepare more workers for careers in the high-paying construction field. “This report aligns with what contractors have been telling the association—that the construction industry is still eager to add workers,” said Ken Simonson, the association’s chief economist. “The employment gains would be even larger if … Read more

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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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