Construction Spending Increases in Between November 2012, 2013

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Total construction spending increased between October and November and for the year amid growing private-sector demand, according to an analysis of new U.S. Census Bureau data by the Associated General Contractors of America. Association officials noted, however, that the spending levels were held back by declining public sector investments for both the month and the year. “The nonresidential construction spending figures are even more positive than they appear, with most categories now positive year-over-year,” said Ken Simonson, the association’s chief economist. “The outlook appears favorable for many types of private nonresidential and multifamily construction, but remains flat or negative for … Read more

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Construction Employment Increases, Trends Highlight Fragility

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Construction firms added jobs in 39 states over the past 12 months, while employment nearly stabilized in the remainder, according to an analysis released today by the Associated General Contractors of America of Labor Department data. Association officials cautioned that the industry's recovery was still relatively fragile, noting that a number of states experiencing large annual gains lost jobs during the past month. “The widespread job gains seen in most states for the past few months continued in November, while no state recorded a year-over-year loss of more than 4 percent,” said Ken Simonson, the association's chief economist. “But progress … Read more

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Slight Contraction for Architecture Billings Index

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Washington, D.C. — After six months of steadily increasing demand for design services, the Architecture Billings Index paused in November. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lead time between architecture billings and construction spending. The American Institute of Architects reported the November ABI score was 49.8, down from a mark of 51.6 in October. This score reflects a slight decrease in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 57.8, down from the reading of 61.5 the previous month. “Architecture firms … Read more

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Construction Employment Increases, Unemployment Rate Falls Reports AGC

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Construction employers added 17,000 jobs in November as the sector's employment hit the highest level since August 2009, and the industry unemployment rate fell to 8.6 percent, according to an analysis of new government data by the Associated General Contractors of America. Association officials noted that the new employment figures come as construction spending levels hit a four-year high in October. “While these new employment figures are very encouraging, growth remains uneven by segment, region and time period,” said Ken Simonson, the association’s chief economist. “There are likely to be continuing variations in growth between homebuilding, private nonresidential and public … Read more

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Nonresidential Construction Index Drops in Fourth Quarter

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RALEIGH, N.C. — FMI announces the release of the 2013 Fourth Quarter Nonresidential Construction Index report. The NRCI shows a 2.9 point drop in the fourth quarter to 57.4. However, the score is still ahead of fourth quarter 2012 by 1.9 points. An NRCI of more than 50 indicates growth, therefore the fourth quarter score still indicates modest improvement in the industry. One of the reasons cited for the slight decline is the political infighting and uncertainty. Proceeding with caution by investors seems to be the new norm. Productivity continues to slide. The 48.6 score is at its lowest since … Read more

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