Construction Backlog Indicator Rebounds in September, Contractor Confidence Improves

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Associated Builders and Contractors reported that its Construction Backlog Indicator increased to 8.6 months in September, according to an ABC member survey conducted Sept. 20-Oct. 4. The reading is down .4 months from September 2023. Backlog increased in every region except for the Northeast in September. On a year-over-year basis, however, only the Middle States have longer backlog than one year ago. ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels improved in September. The readings for all three components are above the threshold of 50, indicating expectations for growth over the next six months. Visit abc.org/economics for the … Read more

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Construction Input Prices Down in September

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Construction input prices decreased .9% in September compared to the previous month, according to an Associated Builders and Contractors’ analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices also decreased .9% for the month. Prices decreased in two of the three energy subcategories last month. Crude petroleum prices were down by 16.7%, while unprocessed energy materials prices were down 12.6%. Natural gas prices rose 2.4% in September. Overall construction input prices are 1.9% lower than a year ago, while nonresidential construction input prices are 2.1% lower. “The decline in construction input costs observed in … Read more

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Nonresidential Construction Spending Inches Up in August, Says ABC

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National nonresidential construction spending increased 0.1% 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 $1.22 trillion. Spending was up on a monthly basis in 10 of the 16 nonresidential subcategories. Private nonresidential spending decreased 0.1%, while public nonresidential construction spending was up 0.3% in August. “Nonresidential construction spending inched higher in August, and that’s almost entirely due to ongoing infrastructure investments,” said ABC Chief Economist Anirban Basu. “Public spending accounted for all of the nonresidential segment’s monthly increase and has risen … Read more

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ABC: Record Rebound in Construction Job Openings in August

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The construction industry had 370,000 job openings on the last day of August, according to an Associated Builders and Contractors’ analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings increased by 138,000 last month but are down by 16,000 from the same time last year. “Construction job openings rebounded sharply in August, exhibiting the largest one-month increase on record,” said ABC Chief Economist Anirban Basu. “Much of this surge is likely due to the … Read more

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Construction Employment Increases In 39 States Between August 2023 And August 2024

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Construction employment increased in 39 states in August from a year earlier, while 27 states and the District of Columbia added construction jobs between July and August, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said that tight labor market conditions are making it hard for firms to find enough workers to hire. Between August 2023 and August 2024, 39 states added construction jobs, 10 states and D.C. shed jobs, and employment was unchanged in Georgia. Texas added the most construction employees (36,600 jobs), followed by Florida (36,200 jobs), … Read more

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