U.S. Census Bureau Reports on March 2015 Construction Spending

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The U.S. Census Bureau of the Department of Commerce recently announced that construction spending during March 2015 was estimated at a seasonally adjusted annual rate of $966.6 billion, 0.6 percent ( ±1.3 percent)* below the revised February estimate of $972.9 billion. The March figure is 2.0 percent ( ±1.6 percent) above the March 2014 estimate of $947.3 billion. During the first three months of this year, construction spending amounted to $206.7 billion, 3.2 percent ( ±1.5 percent) above the $200.4 billion for the same period in 2014. Private ConstructionSpending on private construction was at a seasonally adjusted annual rate of … Read more

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Construction Firms Add 45K Jobs in April; Unemployed Workers Drop to 14-Year Low

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Construction firms added 45,000 jobs in April and 280,000 over 12 months, as the sector’s unemployment rate fell to a nine-year April low of 7.5 percent, according to an analysis by the Associated General Contractors of America. Association officials noted that even as the industry continues to expand, growth has been erratic and inconsistent. “Construction employment resumed strong growth in April after slipping in March and is now growing at more than double the growth rate for total non-farm employment,” said Ken Simonson, the association’s chief economist. “Nevertheless, job growth remains spotty with the nonresidential building sector losing jobs even … Read more

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Dodge Momentum Index Moves Higher in April

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NEW YORK, N.Y. — The Dodge Momentum Index rose 0.8 percent in April to 122.6 (2000=100) from March's 121.6, according to Dodge Data & Analytics. 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 slight rise shows planning activity beginning to edge up once again after retreating 2.5 percent in March, continuing the up-and-down pattern that's been present so far in 2015. Although the planning statistics have essentially plateaued in early 2015, the level … Read more

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Architecture Billings Index Accelerates in March

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WASHINGTON, D.C. — For the second consecutive month, the Architecture Billings Index indicated a modest increase in design activity in March. 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 March ABI score was 51.7, up from a mark of 50.4 in February. This score reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.2, up from a reading of 56.6 the previous month. VIDEO: Economic update … Read more

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Construction Employment Increases, Industry Worries About Tight Labor and Public Markets

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Construction employment expanded in 249 metro areas, declined in 56 and was stagnant in 53 between March 2014 and March 2015, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said the new data comes as many firms remain worried about tightening labor markets and declining public-sector investments in infrastructure and other projects. “Many firms are caught between trying to cope with labor shortages while also wondering whether Washington will figure out how to pay for needed infrastructure reforms,” said Ken Simonson, the association’s chief economist. “Even as construction demand … Read more

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