Construction Employment Falters in August

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WASHINGTON, D.C. – The U.S. construction industry lost 6,000 net jobs in August according to an analysis of U.S. Bureau of Labor Statistics released recently by Associated Builders and Contractors. BLS also downwardly revised July’s estimate from 14,000 net new jobs to 11,000 net new jobs meaning that the construction industry has lost 25,000 net jobs since April after adding 68,000 through the first three months of 2016. The nonresidential sector lost 10,700 net jobs in August after adding 9,600 jobs in July (revised down from 11,500). Employment in the heavy and civil engineering sector fell for the fourth time … Read more

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Market Forecast: Nonresidential Construction to Rebound in 2017

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CHICAGO, Ill. – A market study released by the Metal Construction Association reports that 2017 will be the year the nonresidential construction industry will return to the peak levels last seen in 2007. The residential market will take a bit longer to hit the mark, but the news is positive across the board for industry stakeholders. According to the study, conducted by FMI, the growth has been steady and moderate over the past five years and is slowly inching its way back to high levels seen a decade ago. Growth is predicted to reach 8 percent in 2016 reaching $1.14 … Read more

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Dodge Momentum Index Continues Ascent in August

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NEW YORK, N.Y. – The Dodge Momentum Index grew 1.3 percent in August to 134.9 (2000=100), from its revised July reading of 133.2. 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 August was the result of a 1.7 percent increase from July for institutional planning, as well as a 1 percent gain for commercial planning. August is the fifth consecutive month that the momentum index has increased, marking the longest … Read more

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Construction Input Prices Dip in August

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WASHINGTON, D.C. – Both nonresidential construction input prices and overall input prices fell in August as energy prices retrenched, according to a recent analysis of the Bureau of Labor Statistics Producer Price Index released by Associated  Builders and Contractors. Nonresidential construction input prices were down 0.2 percent on a month-over-month basis and 1.7 percent on a year-over-year basis. “The fact that overall construction input prices have remained stable is more important in the current context than it might be normally,” said ABC Chief Economist Anirban Basu. “With industry labor costs now rising aggressively and the subcontracting community generally busy, falling … Read more

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Nonresidential Spending Inches Lower in July, June Data Upwardly Revised to Eight-Year Record

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WASHINGTON, D.C. – Nonresidential construction spending inched 0.3 percent lower in July largely due to a significant upward revision to June’s spending figure, according to analysis of U.S. Census Bureau data recently released by Associated Builders and Contractors. Nonresidential spending totaled $701.4 billion on a seasonally adjusted annualized basis in July, the second highest month since November of 2008, right behind June, which was revised upward from $682 billion to $703.5 billion. Public nonresidential spending continued to falter, declining 3.2 percent for the month and 6.5 percent for the year. “A number of factors have suppressed nonresidential construction spending over … Read more

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