Backlog Skyrockets for Largest Firms in Q2, Falls to 8.5 Months Overall

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WASHINGTON, D.C. – Construction backlog for large contractors reached a new peak of 14.06 months during the second quarter of 2016 according to the Associated Builders and Contractors Construction Backlog Indicator recently released. The new high for companies with annual revenue above $100 million shattered the previous high of 12.25 months for any revenue segment, which was recorded in the first quarter of 2016 and second quarter of 2013. Nationally, average backlog fell to 8.5 months during the second quarter, down 1.6 percent from the prior quarter. CBI remained virtually unchanged on a year-over-year basis, signaling that growth in the … Read more

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August Construction Starts Jump 21 Percent

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NEW YORK, N.Y. – New construction starts in August soared 21 percent to a seasonally adjusted annual rate of $711.2 billion, according to Dodge Data & Analytics, following lackluster activity in July. The August rise for total construction starts featured an especially elevated amount for nonresidential building, which was helped by the start of a $3-billion petrochemical plant in Louisiana, the $1.7-billion Wynn Casino in the Boston, Massachusetts area and a $508-million terminal upgrade at Seattle-Tacoma International Airport. The non-building construction sector also experienced strong growth, with its public works segment lifted by the start of a $3-billion natural gas … Read more

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Construction Employment Rises in 36 States in August Year-Over-Year

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Thirty-six states added construction jobs between August 2015 and August 2016 while construction employment increased in only 24 states between July and August, according to analysis of Labor Department data recently released by the Associated General Contractors of America. Association officials said demand for construction appears to be cooling in some markets but added that many firms report they would be expanding their headcount if they could find qualified workers to hire. “The construction market has cooled off in recent months but continues to outperform the overall economy in most states, with solid year-over-year job gains,” said Ken Simonson, chief … Read more

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Architecture Billings Index Slips, Overall Outlook Remains Positive

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WASHINGTON, D.C. – On the heels of six out of seven months of increasing levels of demand for design services, the Architecture Billings Index fell just below the positive mark. As a leading economic indicator of construction activity, the ABI reflects the approximate 9-12- month lead time between architecture billings and construction spending. The American Institute of Architects reported the August ABI score was 49.7, down from the mark of 51.5 in the previous month. This score reflects a decrease in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 61.8, up … Read more

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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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