ABC, AIA and NAHB Economists Predict Industry Growth Through 2017

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WASHINGTON, D.C. – Associated Builders and Contractors’ Chief Economist Anirban Basu, American Institute of Architects’ Chief Economist Kermit Baker and National Association of Home Builders’ Chief Economist Robert Dietz predicted continued growth for the construction industry in 2017 during a recent joint economic forecast. “Nonresidential construction spending growth will continue into the next year with an estimated increase in the range of 3 to 4 percent,” said Basu. “Growth will continue to be led by privately financed projects, with commercial construction continuing to lead the way. Energy-related construction will become less of a drag in 2017, while public spending will … Read more

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June Construction Unemployment Rates Improve in 47 States from 2015

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WASHINGTON, D.C. – June not seasonally adjusted construction unemployment rates improved in 47 states and the nation on a year-over-year basis according to an analysis recently released by Associated Builders and Contractors. The national construction unemployment rate of 4.6 percent was 1.7 percent lower than a year ago according to data from the Bureau of Labor Statistics. Further, the industry boasted its lowest June rate since 2000 when it matched this June’s 4.6 percent rate. BLS data also showed that the industry employed 229,000 more people than in June 2015. Four states—Connecticut, Hawaii, Mississippi and Wyoming—posted an increase in their … Read more

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Construction Input Prices Continue Ascent, Could Pressure Margins

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WASHINGTON, D.C. — Construction input prices expanded in June, rising 1.1 percent on a monthly basis according to a recent analysis of the Bureau of Labor Statistics Producer Price Index released by Associated Builders and Contractors. This report marks the fourth consecutive month that input prices have expanded following eight straight months of decline. “Commodity prices stabilized in March and in many cases, including natural gas and oil, have been edging higher,” said ABC Chief Economist Anirban Basu. “Accordingly, construction materials prices are now on the rise, which all things being equal translate into smaller profit margins. Alternatively, rising costs … Read more

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Construction Material Prices Rise Again

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WASHINGTON, D.C. — Construction input prices expanded by 0.7 percent in May and have now expanded for three consecutive months according to an analysis of the Bureau of Labor Statistics Producer Price Index released by Associated Builders and Contractors. The rise follows eight consecutive months during which construction input prices fell; prices remain 3.4 percent below their year-ago level. Nonresidential construction input prices expanded by 0.9 percent in May, but are still 3.5 percent below their year-ago level. Price gains were largely driven by iron and steel prices and steel mill product prices, which expanded 5.8 percent and 4.6 percent … Read more

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ABC Report: Safety Best Practices Can Make Construction Companies 720% Safer

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WASHINGTON, D.C. –Associated Builders and Contractors recently released its 2016 Safety Performance Report to further the industry’s understanding of how to make construction jobsites safer. Packed with infographics and practical takeaways, the report documents the dramatic impact of using proactive safety practices to reduce recordable incidents by up to 86 percent, making the best-performing companies 720 percent safer than the industry average. “Until now, relatively little research has been conducted on the correlation between the use of ‘leading indicators,’ such as  substance abuse programs, new hire safety orientation and near-miss investigations and safer construction jobsites,” said ABC President and CEO … Read more

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