Contractor Confidence Dips in First Half of 2016

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WASHINGTON, D.C.  – The average contractor is less confident regarding business prospects for the next six months, but the nonresidential construction recovery is anticipated to remain in place, according to the Associated Builders and Contractors Construction Confidence Index released recently. The diffusion index measures forward-looking construction industry expectations in sales, profit margins and staffing levels, with readings above 50 indicating growth. According to the most recent survey, during the first half of 2016: Sales expectations fell from 67.0 to 64.1 Profit margin expectations fell from 62.8 to 61.1 Staffing level intentions rose from 63.9 to 64.9 Although two indices fell, … Read more

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Construction Input Prices Begin to Trend Higher, ABC Reports

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WASHINGTON, D.C. – Both nonresidential and overall construction input prices increased in September, with natural gas and crude petroleum prices bouncing back, according to analysis of the U.S. Bureau of Labor Statistics Producer Price Index released by Associated Builders and Contractors. The BLS data show that nonresidential input prices expanded 0.3 percent on a monthly basis in September, and overall construction prices also rose 0.3 percent on a monthly basis after declining 0.2 percent in August. It is important to note that nonresidential input construction prices are now higher on a year-over-year basis for the first time since November 2014. … Read more

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Nonresidential Spending Slips in August

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WASHINGTON, D.C. — Nonresidential construction spending fell for a second consecutive month in August, according to a recent analysis of U.S. Census Bureau released by Associated Builders and Contractors. Nonresidential spending totaled $686.6 billion on a seasonally adjusted, annualized basis for the month, 1.1 percent lower than July’s total of $694.1 billion (revised down from $701 billion) and 1.3 percent below August 2015’s figure. Private nonresidential construction spending fell just 0.4 percent for the month, while its public sector counterpart shrank 2 percent. Four of the five largest nonresidential subsectors—power, highway and street, commercial and manufacturing—combined to fall 2.2 percent … Read more

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Construction Unemployment Rates Improve in 48 States in August

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WASHINGTON, D.C. — August not seasonally adjusted construction unemployment rates improved in 48 states and the nation on a year-over-year basis, according to a recent analysis released by Associated Builders and Contractors. The national NSA construction unemployment rate of 5.1 percent was 1 percent lower than a year ago, according to data from the Bureau of Labor Statistics, producing the lowest August construction unemployment rate on record. BLS data also showed that the industry employed 183,000 more people than in August 2015. “August 2016 continues the unbroken monthly streak of year-over-year rate declines in the construction unemployment rate that began … Read more

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Backlog Skyrockets for Largest Firms in Q2, Falls to 8.5 Months Overall

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WASHINGTON, D.C. – Construction backlog for large contractors reached a new peak of 14.06 months during the second quarter of 2016 according to the Associated Builders and Contractors Construction Backlog Indicator recently released. The new high for companies with annual revenue above $100 million shattered the previous high of 12.25 months for any revenue segment, which was recorded in the first quarter of 2016 and second quarter of 2013. Nationally, average backlog fell to 8.5 months during the second quarter, down 1.6 percent from the prior quarter. CBI remained virtually unchanged on a year-over-year basis, signaling that growth in the … Read more

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