Industry Adds 15,000 Jobs in February, Reaches Highest Level Since June 2009

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Construction employers added 15,000 workers to payrolls in February despite harsh winter working conditions, raising industry employment to the highest level since June 2009, according to an analysis of new government data by the Associated General Contractors of America. However, association officials noted that as the industry adds jobs many firms report they are having a hard time finding skilled workers. “The rate of construction hiring has outpaced job growth in the overall economy for the past year,” said Ken Simonson, the association’s chief economist. “During that time, all construction segments have added workers.”  Construction employment totaled 5,941,000 in February, … Read more

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Dodge Momentum Index Slips in February

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NEW YORK, N.Y. — The Dodge Momentum Index slipped 2.6 percent in February compared to the previous month, according to McGraw Hill Construction, a division of McGraw Hill Financial. The Momentum Index 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. February's decline brought the Momentum Index to 116.5 (2000=100), down from January's revised 119.7 but still nearly 20 percent above the year-earlier (February 2013) reading of 97.4. The latest month's retreat is expected to be a brief … Read more

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Construction Spending Posts Biggest Increase Since 2006

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Total construction spending in January posted the steepest year-over-year increase since 2006, with growth in public construction, as well as private residential and nonresidential spending, according to an analysis of new Census Bureau data by the Associated General Contractors of America. Association officials warned that federal investments in highway repairs could decline rapidly this summer because of funding shortfalls, undermining the sector’s recovery. “Overall construction spending increased in January compared with both December and January 2013 despite uncommonly adverse weather conditions,” said Ken Simonson, the association’s chief economist.   “The monthly gains were limited to homebuilding and multifamily residential construction, … Read more

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Exports of U.S.-Made Construction Equipment Decline 25% in 2013 to $20 B

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Exports of U.S.-made construction equipment dropped 25 percent in 2013 compared to the previous year for a total of $20 billion shipped to global markets, according to the Association of Equipment Manufacturers, citing U.S. Commerce Department data it uses in trend reports for members. All world regions recorded declines.     AEM noted that the 25 percent decline for 2013 follows three years of export growth (13 percent in 2012, 43 percent in 2011 and 28 percent in 2010), after a 2009 decline of 38 percent in the depths of the recession. Exports to Europe declined 19 percent for a … Read more

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Equipment Leasing and Finance Industry Confidence Levels Near Two-Year High

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WASHINGTON, D.C. — The Equipment Leasing & Finance Foundation recently released the February 2014 Monthly Confidence Index for the Equipment Finance Industry. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $827-billion equipment finance sector. Overall, confidence in the equipment finance market is 63.3, the second highest index in two years and off slightly from last month's two-year index high of 64.9.   When asked about the outlook for the future, MCI survey respondent Valerie Hayes Jester, president, Brandywine Capital … Read more

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