Construction Input Prices Continue to Fall in December, Says ABC

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Construction input prices declined 1.7 percent in December on a month-over-month basis, yet are 3.5 percent higher than the same time last year, according to a recent Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics data. In December, nonresidential construction prices fell 1.6 percent but are up 4.1 percent compared to one year ago. Among 11 subcategories monitored in the data, six declined in price in last month, with the crude petroleum category registering the largest decrease at 3.7 percent and 11.1 percent year-over-year. The decline in input prices occurred despite a massive run-up in natural gas … Read more

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Contractors Lose Confidence in Q3 but Remain Upbeat

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WASHINGTON, D.C. — While construction industry leaders remained confident in the third quarter of 2018, optimism slipped relative to the second quarter, according to the latest Construction Confidence Index released by Associated Builders and Contractors. Approximately three in four construction firms expect that sales will continue to rise over the next six months and closer to one in 10 expect sales to decline over the next two quarters. Though many firms expect to become even busier, fewer than six in 10 contractors expect profit margins to increase, a reflection of rising human capital, materials prices and other input costs. Despite … Read more

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Construction Employment Falters in March, Says ABC

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WASHINGTON, D.C. — The U.S. construction industry lost 15,000 jobs on net in March, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics. This represents a significant reversal from February, when the industry added a post-recession high of 65,000 net new jobs (upwardly revised from more than 61,000). The construction sector has added 228,000 net new jobs over the past twelve months, which represents a substantial 3.3 percent increase in the number of workers directly employed by the industry. The nonresidential construction segment lost 8,200 jobs on net in March. While the … 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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Dodge Momentum Index Moves Higher in June

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NEW YORK, N.Y. – The Dodge Momentum Index took another step forward in June, increasing 1.1 percent to 141.1 (2000=100) from its revised May reading of 139.6. The momentum index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. June’s lift was due to a 4.8 percent advance by the institutional component of the momentum index, while the commercial component fell 1.3 percent. The momentum index has exhibited substantial strength since mid-2016, with the institutional and commercial components … Read more

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