Architecture Billings Index Positive for Third Straight Month

WASHINGTON, D.C. — Billings at architecture firms accelerated to their strongest pace of growth since December 2010. As a leading economic indicator of construction activity, the Architecture Billings Index reflects the approximate nine to 12-month lag time between architecture billings and construction spending.   The American Institute of Architects reported the October ABI score was 52.8, up from the mark of 51.6 in September. This score reflects an increase in demand for design services (any score above 50 indicates an increase in billings).  The new projects inquiry index was 59.4, compared to a mark of 57.3 the previous month. “With … Read more

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AGC Reveals October Construction Numbers

Construction employment declined in 28 states from October 2011 to October 2012 even as 31 states and D.C. added jobs during the past month, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials noted that residential construction gains were being undermined by the broader business uncertainty being caused by the threat of the looming fiscal cliff. “The industry remains stuck in neutral, with close balance each month between the number of states that add or lose construction jobs,” said Ken Simonson, the association's chief economist. “Despite a strong pickup in homebuilding and … Read more

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AGC Reports on October Construction, Unemployment Numbers

Construction employers added 17,000 jobs in October while the industry’s unemployment rate fell to 11.4 percent, according to an analysis of new federal data released by the Associated General Contractors of America. Association officials noted that total construction employment levels have changed little during the past year while the declines in the industry's unemployment rate are coming as more former workers leave the industry. “Despite five consecutive months of construction employment gains, the overall employment picture is essentially unchanged from a year ago,” said Ken Simonson, the association’s chief economist. “Construction employment appears stuck in a state of mild monthly … Read more

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AGC Reports on September Construction Spending

Construction spending in September climbed to a nearly three-year high at an annualized rate of $852 billion, as increased spending on houses, apartments and private nonresidential projects outweighed a continuing downturn in public construction, according to an analysis of new federal data released today by the Associated General Contractors of America. Association officials said they expect both the public and private trends to continue despite the disruption caused by Hurricane Sandy. “It is heartening to see the growth in total spending, but the progress remains fragile and fragmentary,” said Ken Simonson, the association's chief economist, noting that construction spending had … Read more

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AGC Reports on Construction, Market Trends

Construction employment declined in 160 out of 337 metropolitan areas between September 2011 and September 2012, increased in 125 and was stagnant in 52, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said that construction employment in many areas continued to decline as construction activity is put on hold amid uncertainty about federal tax and investment programs and declining public sector demand. “A lot of project owners appear to be taking a time out until Washington officials can set tax rates for next year and figure out what to … Read more

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