The amount contractors pay for a range of key construction materials edged down 0.3 percent in May and climbed by only 2.3 percent from a year earlier, according to an analysis of producer price index figures released by the Associated General Contractors of America. Meanwhile, the amount contractors charge to construct projects remained largely flat for the month and is up only between 3.1 and 4.3 percent for the year. “The slowdown in construction input price increases is a rare and possibly short-lived event,” said Ken Simonson, the association's chief economist, noting that the last time prices rose so slowly … Read more

COCONUT CREEK, Fla. — Nonresidential construction spending continues to slide, falling 0.7 percent in April, and spending in April stood at $558.33 billion on a seasonally adjusted annualized basis, but is up 7.1 percent from April 2011, according to Associated Builders and Contractors. “Ten of the nation's 16 nonresidential construction segments experienced declines in April, including manufacturing and power, which had been the leading drivers of spending growth,” said Anirban Basu, ABC chief economist. Among the 16 subsectors in the nonresidential construction industry,10 reported declines in construction spending. The largest drop came from lodging, down 5.3 percent. This was followed … Read more