Nonresidential Construction Spending Dips in November

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Nonresidential construction spending fell 1 percent on a monthly basis in November, but has still managed to expand 4 percent on a year-over-year basis according to the recent release from the U.S. Census Bureau. Spending for the month totaled $617 billion on a seasonally adjusted, annualized basis. Moreover, the government revised the October spending figure up from $611.8 billion to $622.9 billion. “November’s drop in nonresidential construction spending ends four consecutive months of spending growth, but represents only a minor dip in the industry’s momentum,” said Associated Builders and Contractors Chief Economist Anirban Basu. “November’s figure would have represented a […]

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Construction Spending Declines in November, Reports AGC

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Construction spending edged down in November but outlays for the year remained on track for a modest increase over 2013 totals, according to a recent analysis by the Associated General Contractors of America. Association officials said the new spending figures come as the group’s members prepare a new push for action on a series of federal infrastructure programs, including funding for highway and transit upgrades and to maintain clean water systems across the country. “Today’s figures continue the seesaw pattern that has characterized residential, private nonresidential and public construction throughout 2014,” said Ken Simonson, the association’s chief economist. “Overall construction […]

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Construction Employment Increases as Demand Rebounds, Labor Shortages Cause Concern

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Construction employment expanded in 224 metro areas, declined in 64 and was stagnant in 51 between November 2013 and November 2014, according to a new analysis of federal employment data recently released by the Associated General Contractors of America. Association officials said contractors in many parts of the country were benefitting from growing demand, yet labor shortages threaten to undermine the sector’s recovery. “It is good news that construction employment is now rising in two-thirds of the nation’s metro areas,” said Ken Simonson, chief economist for the association. “But now that the unemployment rate for construction workers has fallen to […]

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Construction Employment Increases Between October, November

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Construction firms added jobs in 38 states and the District of Columbia between November 2013 and November 2014 while construction employment increased in 26 states and D.C. between October and November, according to a recent analysis of Labor Department data by the Associated General Contractors of America. Association officials noted that the list of states gaining jobs has varied significantly from month to month as the market remains extremely variable. “Construction job growth remains positive overall but volatile,” said Ken Simonson, the association’s chief economist. “Although more than three-quarters of states have added construction jobs from year-earlier levels throughout 2014, […]

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Demand Softens, Outlook for Architecture Billings Index Remains Positive

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WASHINGTON, D.C. — Buoyed by sustained demand for apartments and condominiums, coupled with state and local governments moving ahead with delayed public projects, the Architecture Billings Index has been positive for seven consecutive months. 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 November ABI score was 50.9, down from a mark of 53.7 in October. This score reflects a slight increase in design activity (any score above 50 indicates an increase in billings). The new projects inquiry index was […]

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