ABC: Nonresidential Construction Spending Falls Sharply in January

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National nonresidential construction spending decreased 0.4% in January, 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 $1.190 trillion. Spending was down on a monthly basis in 10 of the 16 nonresidential subcategories. Private nonresidential spending fell 0.1%, while public nonresidential construction spending was down 1.0% in January. Healthcare construction decreased slightly from December to January, spending overall in this sector is up 13% from last January. “Despite January’s disappointing data, nonresidential construction spending is still up more than 17% over the past year,” … Read more

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ABC: Nonresidential Construction Adds Nearly 12,000 Jobs in December

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The construction industry added 17,000 jobs on net in December, according to an Associated Builders and Contractors’ analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has grown by 197,000 jobs, an increase of 2.5%. Last month, nonresidential construction employment increased by 11,900 positions on net, with growth in two of the three subcategories. Nonresidential building added 8,100 positions, while nonresidential specialty trade added 4,300 jobs on net. Heavy and civil engineering lost 500 jobs. The construction unemployment rate fell to 4.4% in December. Unemployment across all industries remained unchanged at 3.7% … Read more

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ABC Construction Backlog and Contractor Confidence Rebound in November

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ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels increased in November. All three indices stand above the threshold of 50, indicating expectations of growth over the next six months. Associated Builders and Contractors reports that its Construction Backlog Indicator rose to 8.4 months in November, according to an ABC member survey conducted Nov. 19 to Dec. 3. The reading is up 0.3 months from October 2021 and 1.2 months from November 2020. “It’s getting better out there,” said ABC Chief Economist Anirban Basu. “While the outlook for construction remains imperfect, extraordinarily low interest rates have created … Read more

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ABC’s Construction Backlog Rebounds in October, Contractor Confidence Falls

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Associated Builders and Contractors reports that its Construction Backlog Indicator rose to 8.1 months in October, according to an ABC member survey conducted from Oct. 20 to Nov. 2. The reading is up 0.5 months from September 2021 and 0.4 months from October 2020. However, ABC’s Construction Confidence Index readings for sales and profit margins declined in October, while the index for staffing rose slightly. The sales and staffing readings are still above the threshold of 50, indicating expectations of growth over the next six months. The index for profit margins fell below that threshold, pointing to expectations of decline. … Read more

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Construction Backlog Indicator Rebounds in October, Contractor Optimism Rises

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Associated Builders and Contractors reported its Construction Backlog Indicator rebounded to 7.7 months in October, an increase of 0.2 months from September’s reading, according to an ABC member survey conducted from Oct. 20 to Nov. 5. The backlog is 1.2 months lower than in October 2019. ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels increased in October. Sales and staffing index readings remained above the threshold of 50, indicating expectations of expansion over the next six months. For profit margins, this is the eighth consecutive month of decreasing readings. “Given political uncertainty, surging COVID-19 infections, a … Read more

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