Construction Spending Rises for Fifth Month in a Row in December, Private Investment Climbs in 2017

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Construction spending increased for a fifth consecutive month in December as private residential and nonresidential investment for the year topped 2016 totals, while declining infrastructure spending dragged down public-sector outlays, according to an analysis of new government data by the Associated General Contractors of America. Association officials said federal, state and local officials should address the growing shortfall in transportation, water and wastewater infrastructure in order to sustain economic growth and improve public health and safety. “Construction spending ended the year on a high note, with gains over November levels for all major categories, but the annual totals for 2017 … Read more

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Nonresidential Construction Maintains Momentum in December, ABC Says

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WASHINGTON, D.C. – Nonresidential construction spending expanded 0.8 percent in December, totaling $720.4 billion on a seasonally adjusted basis, according to Associated Builders and Contractors’ analysis of data released by the U.S. Census Bureau. This represents the fifth consecutive month during which the pace of nonresidential spending has increased. Nonresidential spending expanded 0.1 percent on a year-over-year basis and sits at its highest level since March. Private nonresidential construction spending increased 1.1 percent for the month, but is down 2.5 percent year over year, while public nonresidential spending increased 0.4 percent for the month and 4.4 percent for the year. … Read more

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Construction Jobs Increase in 42 States December 2016 Year-Over-Year

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Forty-two states added construction jobs between December 2016 and December 2017, while 32 states and the District of Columbia added construction jobs between November and December, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials said a new federal infrastructure measure would help guarantee continued employment gains in the sector. “Construction employment is expanding in many parts of the country in large part because of strong private-sector demand,” said Ken Simonson, the association’s chief economist. “Any new public-sector investments, particularly for infrastructure projects, would help accelerate job gains in many parts of … Read more

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AGC Donates Nearly $200K to Help Cover Hurricane Harvey Damages

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The AGC Charities Inc, the charitable arm of the Associated General Contractors of America, is providing 83 construction workers in Texas with a total of $195,000 in donated funds to help cover losses they incurred as a result of Hurricane Harvey. The checks, which amount to $2,350 per construction worker, are intended to help employees of firms that belong to the association cover the costs of uninsured and uncompensated damages caused by the storm. “Contractors may do hard work, but they have soft hearts, especially when it comes to helping some of their own,” said Art Daniel the association’s national … Read more

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Three-Quarters of Construction Firms Plan to Expand 2018 Headcount

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Seventy-five percent of construction firms plan to expand their payrolls in 2018 as contractors are optimistic that economic conditions will remain strong as tax rates and regulatory burdens fall, according to survey results released by the Associated General Contractors of America and Sage Construction and Real Estate. Despite the general optimism outlined in “Expecting Growth to Continue: The 2018 Construction Industry Hiring and Business Outlook,” many firms report they remain worried about workforce shortages and infrastructure funding. “Construction firms appear to be very optimistic about 2018 as they expect demand for all types of construction services to continue to expand,” … Read more

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