Construction Input Prices Expand for Third Straight Month, Petroleum Prices Soar

  • Posted on

WASHINGTON, D.C. – Construction input prices expanded 0.3 percent on a monthly basis and 4.8 percent on a year-over-year basis in February, according to a recent analysis of U.S. Bureau of Labor Statistics data and released by ABC. This represents the most rapid yearly growth in construction input prices in more than five years. Only four key inputs tracked by BLS experienced monthly price declines, principally natural gas. Natural gas prices declined 18 percent in February, but are still up by more than 66 percent over the past year. Crude petroleum prices are up 107 percent over the past year. … Read more

Filed under: Economic News, eNewsTagged with: , ,

Nonresidential Construction Spending Slips

  • Posted on

WASHINGTON, D.C. — Nonresidential construction spending contracted during January, according to analysis of U.S. Census Bureau released by Associated Builders and Contractors. Nonresidential spending fell 1.9 percent from December to $698.4 billion on a seasonally adjusted, annualized basis. This represents the first month total nonresidential construction spending dipped below $700 billion since July 2016. Despite the monthly setback, year-over-year progress remains intact, with nonresidential spending increasing 1.5 percent since January 2016. However, in real terms, that represents virtually nonexistent growth. Private nonresidential spending remained unchanged for the month, while public sector spending plunged 4.7 percent. The greatest loss in spending … Read more

Filed under: Economic News, eNewsTagged with: ,

More Than 170 Top Construction Pros to Compete at ABC’s National Craft Championships

  • Posted on

WASHINGTON, D.C. – Associated Builders and Contractors announced that more than 170 of the top construction apprentices and trainees in the country will compete in the 30th annual National Craft Championships, March 1-2 during ABC’s Workforce Week ‘17. Competitors from 27 states will contend for gold, silver and bronze medals and a safety award in 13 competitions representing 11 crafts. The two-day competition includes a written exam and a hands-on, practical test where competitors will demonstrate their high-level craftsmanship and safety best practices. The annual National Craft Championships was first held in Orlando, Florida in 1987. Apprentices and craft trainees … Read more

Filed under: NewsTagged with: , , ,

Construction Input Prices Surge to Start 2017, ABC Says Energy Prices Remain on the Ascent

  • Posted on

WASHINGTON, D.C. – Construction input prices collectively rose by 1 percent on a monthly basis and 3.8 percent on a year-over-year basis, according to analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. This represents the fastest year-over-year rate of materials price inflation since the beginning of 2012. Nonresidential input prices rose 0.9 percent for the month and are up 4 percent year over year. The rise in input prices is largely attributable to natural gas prices, which expanded 23.6 percent for the month and are up 81.8 percent year over year. Crude petroleum prices … Read more

Filed under: Economic NewsTagged with: , ,

Construction Unemployment Rates Improve in 26 States Year-Over-Year, ABC Says

  • Posted on

WASHINGTON, D.C. – December not seasonally adjusted construction unemployment rates were down in 26 states and the nation on a year-over-year basis, according to an analysis released by Associated Builders and Contractors. The rates for two states, Iowa and Wisconsin, were unchanged from December 2015. The national NSA construction unemployment rate of 7.4 percent was down 0.1 percent from a year ago, according to data from the U.S. Bureau of Labor Statistics. The national NSA construction unemployment rate has fallen from the previous year’s reading every month since October 2010. Since these industry-specific rates are not seasonally adjusted, it is … Read more

Filed under: Economic News, eNewsTagged with: ,