Construction Input Prices Dip in August

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WASHINGTON, D.C. – Both nonresidential construction input prices and overall input prices fell in August as energy prices retrenched, according to a recent analysis of the Bureau of Labor Statistics Producer Price Index released by Associated  Builders and Contractors. Nonresidential construction input prices were down 0.2 percent on a month-over-month basis and 1.7 percent on a year-over-year basis. “The fact that overall construction input prices have remained stable is more important in the current context than it might be normally,” said ABC Chief Economist Anirban Basu. “With industry labor costs now rising aggressively and the subcontracting community generally busy, falling … Read more

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Nonresidential Spending Inches Lower in July, June Data Upwardly Revised to Eight-Year Record

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WASHINGTON, D.C. – Nonresidential construction spending inched 0.3 percent lower in July largely due to a significant upward revision to June’s spending figure, according to analysis of U.S. Census Bureau data recently released by Associated Builders and Contractors. Nonresidential spending totaled $701.4 billion on a seasonally adjusted annualized basis in July, the second highest month since November of 2008, right behind June, which was revised upward from $682 billion to $703.5 billion. Public nonresidential spending continued to falter, declining 3.2 percent for the month and 6.5 percent for the year. “A number of factors have suppressed nonresidential construction spending over … Read more

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July Construction Unemployment Rate Lowest Since 2000

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WASHINGTON, D.C., — In July, not seasonally adjusted construction unemployment rates improved in 43 states and the nation, adding 209,000 workers on a year-over-year basis, according to an analysis of Bureau of Labor Statistics data released by Associated Builders and Contractors. The national NSA construction unemployment rate of 4.5 percent was 1 percent lower than a year ago, the lowest July rate since 2000 when it was 4.4 percent. “The drop in the construction unemployment rate from July 2015 adds yet another month to the unbroken monthly series of year-over-year rate decreases that started in October 2010,” said economist Bernard … Read more

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Construction’s Contribution to Economy Increases in 30 States in 2015

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WASHINGTON, D.C. – The value added by the private construction industry as a percentage of gross domestic product increased in 30 states and decreased in only six in 2015, according to a report recently released by Associated Builders and Contractors. Nationally, construction’s direct contribution to GDP increased by 0.1 percent to 3.9 percent from 2014 to 2015. Construction accounted the highest percentage of state GDP in North Dakota, with of 7.6 percent in 2015, compared to a low of 3.1 percent in Connecticut and New York. Six states—Arizona, North Dakota, Mississippi, Oregon, West Virginia and Wyoming—saw a decrease in construction’s … Read more

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Construction Input Prices Stable in July

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WASHINGTON, D.C. – Nonresidential construction input prices were unchanged in July according to a recent analysis of the Bureau of Labor Statistics Producer Price Index released by Associated Builders and Contractors. Input prices for both the nonresidential construction segment and construction as a whole are 2.3 percent lower than they were a year ago. “ABC has been predicting relative stability in input prices, and that is precisely what July’s report delivered,” said ABC Chief Economist Anirban Basu. “A weak and disappointing global economy has not been able to drag prices higher. Persistently low prices have placed a lid on the … Read more

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