ABC: Monthly Construction Input Prices Increase Slightly

  • Posted on

Construction input prices increased 0.2% in September compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data. Nonresidential construction input prices increased 0.2% for the month, as well. Overall construction input prices are 0.3% higher than a year ago, while nonresidential construction input prices are 0.6% higher. Prices increased in all three energy subcategories in September. Crude petroleum prices were up 10.1%, along with unprocessed energy materials prices, which rose 7.5% last month. Natural gas prices were up slightly by 0.1% in September.

Filed under: Economic NewsTagged with: ,

ABC September Construction Backlog Indicator Dips

  • Posted on

Associated Builders and Contractors reported that its Construction Backlog Indicator declined to nine months in September, according to an ABC member survey conducted Sept. 20 to Oct. 4. The reading is equivalent to one year ago. View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for September. View the full Construction Backlog Indicator and Construction Confidence Index data series. Though it declined last month, the South continues to have the lengthiest backlog, which has been the case since October 2021. Over the past year, only the West has experienced increasing backlog. ABC’s Construction Confidence Index reading for sales and … Read more

Filed under: Economic NewsTagged with: ,

Construction Job Openings at 350,000, Says ABC

  • Posted on

The construction industry had 350,000 job openings on the last day of August, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings decreased by 3,000 last month but are up by 5,000 from the same time last year. “The number of open, unfilled construction positions declined in August but remains higher than both one year ago and the pre-pandemic level,” said ABC Chief Economist Anirban Basu. “Despite … Read more

Filed under: Economic NewsTagged with: ,

ABC: Nonresidential Construction Spending Increases

  • Posted on

National nonresidential construction spending increased .4% in August, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.09 trillion. Spending was up on a monthly basis in 12 of the 16 nonresidential subcategories. Private nonresidential spending increased by .3%, while public nonresidential construction spending was up .6% in August.

Filed under: Economic NewsTagged with: ,

ABC Announces 2023-24 Tech Alliance Members

  • Posted on

Associated Builders and Contractors announced the members of its 2023-24 Tech Alliance — a consortium of firms that create construction technology and innovative solutions for ABC contractor members, which primarily perform work in the commercial and industrial sectors. Comprised of 15 companies, the Tech Alliance leverages technology resources to help ABC members develop people, win work and deliver work safely, ethically and profitably for the betterment of the communities in which they work. The 2023-24 Tech Alliance members are Arcoro, Autodesk Inc., BuildOps, ConstructConnect, Egnyte, Field Control Analytics, Kojo, KPA, Procore, Sage, Smartapp, SmartBuild, SubHQ, Tenna and Trimble. The alliance introduces small and … Read more

Filed under: NewsTagged with: ,