ABC: Nonresidential Construction Spending Increases

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National nonresidential construction spending increased .4% in August, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.09 trillion. Spending was up on a monthly basis in 12 of the 16 nonresidential subcategories. Private nonresidential spending increased by .3%, while public nonresidential construction spending was up .6% in August.

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Construction Commodities Prices Continue to Stabilize, Digital + Energy Transformation Drive Industry Growth

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Global construction consultant Linesight released its Q2 US Country Commodity Report , noting that commodity prices are continuing to stabilize, albeit at elevated levels, with the GDP rising beyond expectations and signs of cooling inflation. Digital transformation is driving rapid expansion in the data center and high-tech industrial sectors in the United States supported by federal legislation such as the CHIPS and Science Act and the Infrastructure Investment and Jobs Act. This is presenting some challenges namely in skilled workers to deliver the facilities, as well as a growing need to identify new sites and locations to meet the digital … Read more

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Producer Price Index for Construction Materials, Services Rises 1.1%

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The price of materials and services used in nonresidential construction increased 1.1% from July to August, driven by an extreme jump in diesel fuel costs, according to an analysis by the Associated General Contractors of America. Association officials noted that most other commodity prices were subdued but said their newly released survey showed contractors continue to experience widespread problems finding qualified workers and the costs associated with those shortages. The producer price index for diesel fuel, which covers the selling price at the terminal rack or refinery, soared 34.6% from mid-July to mid-August, the largest one-month jump since 1990. Simonson noted that retail diesel … Read more

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ABC: Monthly Construction Input Prices Increased 1.5%

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Construction input prices rose 1.5% in August compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data released. Nonresidential construction input prices also increased 1.5% for the month, but are up just 0.2% from a year ago. Rising energy prices drove overall price increases in August. Crude petroleum prices were up 8.9% and unprocessed energy materials prices rose 5.4% last month.

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Construction Employment Increases in 45 States, D.C.

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Construction employment increased in 45 states and the District of Columbia in July from a year earlier, while 27 states added construction employees from June to July, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said recent job gains would be more widespread if government officials helped more people prepare for construction careers. Between July 2022 and July 2023, 45 states and D.C. added construction jobs, while industry employment declined in four states and held steady in Vermont. Texas added the most construction jobs over the year (25,200 jobs or 3.2%), … Read more

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