Dodge Momentum Index Moves Higher in December

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The Dodge Momentum Index increased 1.5% in December to 156.2 (2000=100) from the revised November reading of 153.9. The momentum index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. Both components of the momentum index rose over the month – the institutional component gained 2.3%, while the commercial component rose 0.9%. For the full year, the momentum index averaged 141.9, a decline of 3.7% from 2018’s average. In 2019, the commercial … Read more

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Nonresidential Construction Falls Again in December, Says ABC

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National nonresidential construction spending declined 1.2% in December 2019 but is up 4.4% on a year-ago basis, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $779.6 billion in December. Private nonresidential spending fell 1.8% on a monthly basis and is down by 0.1% compared to December 2018. Public nonresidential construction spending also slipped in December, falling 0.4% for the month. On a year-over-year basis, public nonresidential spending is up 11.2%. “The transition from a private construction-led recovery to a public construction-led recovery is complete,” … Read more

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AGC Reports on December Construction Employment Analysis

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Thirty-four states and the District of Columbia added construction jobs between December 2018 and December 2019, while construction employment increased in 29 states from November to December, according to an analysis by the Associated General Contractors of America of Labor Department data.  Officials added that most contractors expect to continue adding to their payrolls in 2020, according to the results of the association’s annual construction forecast. “Construction employment consistently expanded in at least two-thirds of the states throughout 2019, even though contractors reported difficulty in finding qualified workers all year long,” said Ken Simonson, the association’s chief economist. “As long … Read more

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Dodge Momentum Index Moves Higher in December

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The Dodge Momentum Index increased 1.5% in December to 156.2 (2000=100) from the revised November reading of 153.9. The momentum index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. Both components of the momentum index rose over the month – the institutional component gained 2.3%, while the commercial component rose 0.9%. For the full year, the momentum index averaged 141.9, a decline of 3.7% from 2018’s average. In 2019, the commercial … Read more

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Steel Costs Begin to Level out, Supply + Demand Stabilizes 

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In March 2018, when a large tariff increase—25%—on steel imports went into effect, alarm bells went off in the construction industry. A cost increase of this size impacts bottom lines, so everyone in the industry braced for a blow. The tension was high. The U.S. is the largest steel importer throughout the world (Trade.gov) and, when the new tariff began, the construction industry was growing faster than at any time since 2010, when recovery from the Great Recession began. Just when recovery was taking off, this new threat loomed. Questions related to the new cost of steel and its available … Read more

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