Energy Prices Drive Construction Materials Costs Higher in October

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Construction input prices increased .3% in October 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 also increased .3% for the month. Prices increased in all three energy subcategories last month. Natural gas prices increased by 29.3%, unprocessed energy materials prices rose 9.9% and crude petroleum prices advanced by 7.3%. Overall construction input prices are .2% lower than a year ago, while nonresidential construction input prices are 0.5% lower. “Higher energy prices drove the increase in construction input prices observed in October,” … Read more

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Construction Backlog Indicator Slips in October, Contractor Confidence Remains Elevated

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Associated Builders and Contractors’ Construction Backlog Indicator fell to 8.4 months in October, according to an ABC member survey conducted Oct. 21-Nov. 4. The reading is unchanged from October 2023. Backlog fell in every region except for the Northeast in October, reversing the previous month’s trend in which every region except for the Northeast saw an increase in backlog. Only the Middle States have longer backlog than one year ago. ABC’s Construction Confidence Index readings for sales and staffing levels improved in October, while the reading for profit margins inched slightly lower. The readings for all three components are above … Read more

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Construction Backlog Indicator Rebounds in September, Contractor Confidence Improves

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Associated Builders and Contractors reported that its Construction Backlog Indicator increased to 8.6 months in September, according to an ABC member survey conducted Sept. 20-Oct. 4. The reading is down .4 months from September 2023. Backlog increased in every region except for the Northeast in September. On a year-over-year basis, however, only the Middle States have longer backlog than one year ago. ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels improved in September. The readings for all three components are above the threshold of 50, indicating expectations for growth over the next six months. Visit abc.org/economics for the … Read more

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Construction Input Prices Down in September

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Construction input prices decreased .9% 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 also decreased .9% for the month. Prices decreased in two of the three energy subcategories last month. Crude petroleum prices were down by 16.7%, while unprocessed energy materials prices were down 12.6%. Natural gas prices rose 2.4% in September. Overall construction input prices are 1.9% lower than a year ago, while nonresidential construction input prices are 2.1% lower. “The decline in construction input costs observed in … Read more

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Construction Input Prices Inch Up in August, but Lower Than 1 Year Ago

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Construction input prices increased .1% in August 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 .2% for the month. Prices decreased in all three energy subcategories last month. Natural gas prices fell by 29.8%, while unprocessed energy materials and crude petroleum prices declined by 7.5% and 4.2%, respectively. Overall construction input prices are .7% lower than a year ago, while nonresidential construction input prices are down by .9%. “Construction input prices are now down almost a full percentage point over … Read more

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