Nonresidential Construction Spending Continues to Grow Through Mid-Summer

Nonresidential construction spending expanded 0.5 percent in July and is up 12.7 percent on a year-over-year basis, according to a Sept. 1 release by the U.S. Census Bureau. This represents the strongest year-over-year percentage growth in spending since April 2008. On a seasonally adjusted, annualized basis, nonresidential construction spending totaled $696.1 billion in July, which is the best reading since March 2009. Additionally, June's estimate was upwardly revised 0.9 percent from $686.9 billion to $692.8 billion. “A number of forces are at work and are conspiring to help push nonresidential construction spending higher,” said Associated Builders and Contractors Chief Economist … Read more

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Dodge Momentum Index Moves Higher in August

NEW YORK, N.Y. — The Dodge Momentum Index increased to 128.3 (2000=100) in August, up 2.8 percent from its July reading of 124.8, according to Dodge Data & Analytics. The 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. Planning data continues to trend higher following a weak start to the year, in response to improving economic data and real estate market fundamentals, which bodes well for construction spending through the first half of 2016. The August … Read more

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Construction Unemployment Falls to Lower Level Since August 2001; Job Growth Slows

The number of unemployed workers with construction experience dropped to the lowest total for August since 2001, as hiring slowed despite robust demand for construction, according to an analysis by the Associated General Contractors of America. Association officials cautioned that the hiring slowdown likely has more to do with the lack of available workers in many parts of the country than it does low demand. “The recent slowdown in construction hiring appears to reflect difficulty in finding qualified employees rather than lack of projects needing workers,” said Ken Simonson, the association’s chief economist. “The pool of qualified construction workers will … Read more

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Dodge Data & Analytics to Present Construction Industry's Economic Forecast

NEW YORK, N.Y. — The 77th annual forum for construction industry leaders, the 2016 Dodge Construction Outlook Executive Conference, will be held Oct. 29-30 at The Ritz-Carlton in Washington, D.C. The event features the release of the 2016 Dodge Construction Outlook, a mainstay in construction industry forecasting and business planning. The 2016 Dodge Construction Outlook Executive Conference is expected to draw more than 300 attendees from building product manufacturing, design and architectural, contracting, engineering and industry association firms. Attendees will receive an overview of industry trends and gain vital information needed to plan for business success in the coming year. … Read more

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Construction Employment Increases in Fewer than Half of Nation’s Metro Areas Between July 2014 & 2015

  Construction employment increased in fewer than half of the nation’s metro areas between July 2014 and July 2015, the weakest expansion since late 2011, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials noted that the new jobs data comes while a series of vital federal infrastructure funding measures, notably the surface transportation program, languish unfinished in Congress. “Although construction employment and spending are still expanding well overall, the gains are increasingly spotty,” said Ken Simonson, the association’s chief economist. “Uncertainty over funding for transportation infrastructure, a contraction in … Read more

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