Strong Level of Construction Activity Across U.S. Continues to Drive Increase in Construction Costs

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According to Turner Construction Company’s quarterly Building Cost Index, the busy construction market, shortages of skilled labor and the impact of natural disasters on material production and demand are putting upward pressure on construction costs. Officials with Turner Construction Company announced that the Fourth Quarter 2017 Turner Building Cost Index—which measures costs in the non-residential building construction market in the United States—has increased to a value of 1058. This represents a 1.34 percent quarterly increase from the Third Quarter 2017 and a 5.17 percent yearly increase from the Fourth Quarter 2016. “We saw slight cost increases for select raw materials … Read more

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Construction Spending Rises for Fifth Month in a Row in December, Private Investment Climbs in 2017

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Construction spending increased for a fifth consecutive month in December as private residential and nonresidential investment for the year topped 2016 totals, while declining infrastructure spending dragged down public-sector outlays, according to an analysis of new government data by the Associated General Contractors of America. Association officials said federal, state and local officials should address the growing shortfall in transportation, water and wastewater infrastructure in order to sustain economic growth and improve public health and safety. “Construction spending ended the year on a high note, with gains over November levels for all major categories, but the annual totals for 2017 … Read more

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Nonresidential Construction Maintains Momentum in December, ABC Says

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WASHINGTON, D.C. – Nonresidential construction spending expanded 0.8 percent in December, totaling $720.4 billion on a seasonally adjusted basis, according to Associated Builders and Contractors’ analysis of data released by the U.S. Census Bureau. This represents the fifth consecutive month during which the pace of nonresidential spending has increased. Nonresidential spending expanded 0.1 percent on a year-over-year basis and sits at its highest level since March. Private nonresidential construction spending increased 1.1 percent for the month, but is down 2.5 percent year over year, while public nonresidential spending increased 0.4 percent for the month and 4.4 percent for the year. … Read more

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NAHB Launches New Campaign to Raise Safety Awareness Among Home Builders, Remodelers

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The National Association of Home Builders launched Safety 365, a new member and public awareness campaign designed to ensure that building industry professionals have the information and resources to help keep construction workers safe and help minimize accidents, injuries and deaths. The initiative is designed to make construction safety a priority, every day, 365 days a year. “Our members realize the importance of jobsite safety because we know that our employees have families to return home to. We want to keep these workers safe from accidents and injuries,” said NAHB Chairman Randy Noel, a home builder and developer from La … Read more

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Dodge Data & Analytics to Review Safety Management in Construction

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At 2 p.m. EST Tuesday, Jan. 30, a 60-minute webinar, co-sponsored by CPWR and Dodge Data & Analytics, will review the key findings from the new report Safety Management in the Construction Industry 2017. This study is the third in an ongoing series that examines the positive impacts of a wide variety of safety-related practices. Its key findings include a continuing shift of industry focus toward engaging workers in safety programs, evidence of the relationship between investing in safety and improved business outcomes, a continued difference between the engagement of large vs. small contractors in safety practices and training and … Read more

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