First Quarter Building Cost Index Reflects Strong Market Conditions

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The First Quarter 2017 Turner Building Cost Index—which measures costs in the nonresidential building construction market in the United States—has increased to a value of 1,019. This represents a 1.29 percent quarterly increase from the Fourth Quarter 2016 and a 5.05 percent yearly increase from the First Quarter 2016. As the market appears to continue its upward trend, the availability of skilled labor continues to influence the decision making of subcontractors, who are maintaining a selective approach to pursuits so as not to become overburdened. Additionally, while material delivery lead times have been relatively consistent throughout the last few quarters and […]

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Dodge Momentum Index Loses Steam in April

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NEW YORK, N.Y. – The Dodge Momentum Index fell 5.1 percent in April to 133.8 (2000=100) from its revised March reading of 140.9. 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. April’s decline was due to a 12 percent drop for the institutional component of the momentum index, while the commercial component rose a meager 1 percent. Since early 2016, the momentum index has gained substantial ground, albeit in a saw-tooth pattern, increasing by […]

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Thirty-Nine States Add Construction Jobs Between April 2016, 2017

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Thirty-nine states added construction jobs between April 2016 and April 2017 amid growing demand for construction services, yet more than half the states lost construction jobs between March and April amid tight labor market conditions, according to an analysis by the Associated General Contractors of America of Labor Department recently released data. Association officials said firms in many parts of the country are having a hard time finding qualified workers, which is likely holding back broader employment gains in some states. “Demand for construction remains robust, so it is likely that a number of the monthly employment declines are being […]

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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 […]

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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 […]

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