ABC: Construction Materials Prices Up 0.2% in August, Driven By Iron, Steel

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Construction input prices increased 0.2% in August compared to the previous month, according to an Associated Builders and Contractors analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data released. Nonresidential construction input prices also increased 0.2% for the month. Overall construction input prices are 2.3% higher than a year ago, while nonresidential construction input prices are 2.6% higher. Prices decreased in all three energy categories last month. Crude petroleum and natural gas prices were both down 2.8%, while unprocessed energy materials prices decreased 2.5% in August. “Construction materials prices rose modestly in August, although the increase would … Read more

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ABC: Construction Employment Falls for Third Straight Month in August

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The construction industry lost 7,000 jobs in August, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has grown by 58,000 jobs, an increase of 0.7%. Nonresidential construction employment decreased by 1,200 positions on net, with losses in 2 of the 3 subcategories. Nonresidential building lost 3,300 jobs, while nonresidential specialty trade lost 200 positions. Heavy and civil engineering added 2,300 jobs for the month. The construction unemployment rate dropped to 3.2% in August. Unemployment across all industries increased from 4.2% in July to 4.3% … Read more

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ABC: Construction Quit Rate Plummets to 9-Year Low

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he construction industry had 306,000 job openings on the last day of July, 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 64,000 last month and are up by 77,000 from the same time last year. “The construction job opening rate rose to the highest level in over a year during July,” said ABC Chief Economist Anirban Basu. “Given the ongoing decline in nonresidential construction … Read more

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ABC: Nonresidential Construction Spending Falls Sharply in July

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National nonresidential construction spending decreased 0.2% in July, 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 $1.24 trillion. Spending was down on a monthly basis in 7 of the 16 nonresidential subcategories. Private nonresidential spending was down 0.5%, while public nonresidential construction spending was up 0.3% in July. “Nonresidential construction spending fell for a third consecutive month in July and is now down 2.5% from the December 2023 record high,” said ABC Chief Economist Anirban Basu. “Of course, that’s in nominal terms. With … Read more

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AIA/Deltek Releases Latest Architecture Billings Index

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The AIA/Deltek Architecture Billings Index continues to weaken posting a score of 46.2 for July, down from 46.8 in June, indicating that a majority of firms are still experiencing declining firm billings. Inquiries into new work grew slowly but steadily this month, following a brief three-month pause earlier this year. However, design contract values fell again in July as firms struggle to convert inquiries into projects—a challenge persisting alongside declining billings for over two and a half years. Billings have been negative for 31 of the last 34 months. “Business conditions remain challenging for architecture firms nationwide, with billings declining … Read more

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